Published: 2025-08-18T01:43:12.000Z
Chart GBP/USD Update: Consolidating, scope for higher later
Technical Analyst
1
Consolidating test of the 1.3590/1.3600 resistance as prices unwind overbought daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | 1 Jul YTD high | S1 | 1.3500 | * | congestion | |
| R3 | 1.3750 | * | congestion | S2 | 1.3435 | * | 2024 year high | |
| R2 | 1.3680 | * | 4 Jul high | S3 | 1.3400 | * | congestion | |
| R1 | 1.3600 | ** | congestion | S4 | 1.3370 | ** | Jun, 16 Jul lows |
Asterisk denotes strength of level
01:40 GMT - Consolidating test of the 1.3590/1.3600 resistance as prices unwind overbought daily studies following strong gains from the 1.3140 low. However, bullish price action from the latter suggest scope for break of the 1.3600 level later. Clearance will see room to the 1.3680 resistance. Beyond this will return focus to the 1.3788, July YTD high. Meanwhile, support at the 1.3500 level is expected to underpin. Break here, if seen, will open up room for deeper correction to the 1.3435/1.3400 congestion.