Chart GBP/USD Update: Room for deeper pullback
Break of support at the 1.3550 congestion see prices extending losses from the 1.3675 high to correct recent strong gains from the 1.3275, late-July low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | * | Jul 2025 yr high | S1 | 1.3500 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3475 | * | 13 Aug low | |
| R2 | 1.3650/75 | ** | congestion, 21 Aug high | S3 | 1.3450 | ** | congestion | |
| R1 | 1.3600 | * | congestion | S4 | 1.3400 | * | congestion |
Asterisk denotes strength of level
02:10 GMT - Break of support at the 1.3550 congestion see prices extending losses from the 1.3675 high to correct recent strong gains from the 1.3275, late-July low. Daily and weekly studies have turned down to unwind overbought readings and suggest scope for deeper corrective pullback. Lower will see room to the 1.3500 level then the strong support at 1.3475/1.3450 congestion area. Meanwhile, resistance remains at the 1.3600 congestion. Regaining this will expose the 1.3650/75 highs to retest and further extend gains from the 1.3140, June current year low.