Published: 2025-09-05T07:25:27.000Z
Chart GBP/USD Update: Consolidating - studies under pressure
Senior Technical Strategist
-
Anticipated tests lower have not been seen
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3681 | 4 Jul high | S1 | 1.3400 | * | congestion | ||
| R3 | 1.3590/00 | ** | 24 Jul (w) high; cong | S2 | 1.3333 | * | 3 Sep low | |
| R2 | 1.3550 | intraday break level | S3 | 1.3300 | * | congestion | ||
| R1 | 1.3500 | ** | congestion | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
08:10 BST - Anticipated tests lower have not been seen, as rising intraday studies keep sentiment buoyant and extend consolidation around 1.3450. Falling daily stochastics are also ticking higher, suggesting potential for a move towards congestion resistance at 1.3500. But the negative daily Tension Indicator and deteriorating weekly charts should limit any break in renewed selling interest towards 1.3550. Meanwhile, support remains at congestion around 1.3400. However, a close below the 1.3333 low of 3 September is needed to add weight to sentiment and extend mid-August losses below congestion around 1.3300 towards 1.3200.