Published: 2025-08-01T01:50:34.000Z
Chart GBP/USD Update: Consolidating at 1.3200, but still heavy
Technical Analyst
4
Limited on break of the 1.3200 level as prices settled into consolidation to unwind oversold intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3435 | ** | 2024 year high | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | * | congestion | S2 | 1.3140 | ** | May low, 38.2% | |
| R2 | 1.3370 | ** | 16 Jul/Jun lows | S3 | 1.3100 | * | congestion | |
| R1 | 1.3300 | * | congestion | S4 | 1.3000 | ** | figure, congestion |
Asterisk denotes strength of levelr
01:45 GMT - Limited on break of the 1.3200 level as prices settled into consolidation to unwind oversold intraday studies. Daily studies are stretched as well but a later break cannot be ruled out as weekly unwind overbought readings. Lower will see further losses to extend bearish momentum from the July high and see room to strong support at the 1.3140, May low and 38.2% Fibonacci level. Meanwhile, resistance is lowered to 1.3300 level which is expected to cap. Regaining this will open up room to strong resistance at the 1.3370 previous lows.