Published: 2025-07-03T01:45:50.000Z
Chart GBP/USD Update: Room to extend corrective pullback
Technical Analyst
2
Consolidation below the 1.3788 current year high has given way to sharp pullback to the 1.3632/1.3600 support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | * | congestion | S1 | 1.3632/00 | * | 13 Jun high, congestion | |
| R3 | 1.3835 | * | Oct 2021 high | S2 | 1.3500 | * | congestion | |
| R2 | 1.3788 | ** | 1 Jul YTD high | S3 | 1.3435 | * | Sep 2024 year high | |
| R1 | 1.3700 | * | congestion | S4 | 1.3370 | ** | 23 Jun low |
Asterisk denotes strength of levelr
01:40 GMT - Consolidation below the 1.3788 current year high has given way to sharp pullback to the 1.3632/1.3600 support. Intraday and daily studies have turned lower to unwind overbought readings and suggest room for deeper pullback to retrace strong gains from the 1.3370 low of last week. Lower will see room to support at 1.3500 level and 1.3435. Meanwhile, resistance is lowered to the 1.3700 congestion which is expected to cap. Clearance here, will expose the 1.3788 high to retest and see room to extend the underlying bull trend from September 2022 low.