Published: 2026-08-18T01:59:38.000Z
Chart GBP/USD Update: Pressuring July high
6
Bounce from the 1.3475 low has seen gains to retest the 1.3550/58, July high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | * | congestion | S1 | 1.3500 | * | congestion | |
| R3 | 1.3650/58 | ** | congestion, May high | S2 | 1.3475 | * | 13 Aug low | |
| R2 | 1.3600 | * | congestion | S3 | 1.3450 | * | congestion | |
| R1 | 1.3550/58 | ** | congestion, 15 Jul high | S4 | 1.3400 | ** | congestion |
Asterisk denotes strength of level
02:00 GMT - Bounce from the 1.3475 low has seen gains to retest the 1.3550/58, July high. Daily and weekly studies have turned positive and suggest scope for break here to extend gains from the June current year low at 1.3140. Clearance will see stronger recovery to retrace losses from the 1.3869 January high to the 1.3600 level. Break here will turn focus to the 1.3650 congestion and May high. Meanwhile, support remains at the 1.3500/1.3475 area which should underpin. Failure here, will open up room fordeeper corrective pullback to support at the 1.3450/1.3400 area.