Published: 2025-07-23T01:53:40.000Z
Chart GBP/USD Update: Extending gains, room to 1.3600/32 resistance
Technical Analyst
1
Consolidation below the 1.3500 level has given way to break to extend bounce from the 1.3370 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3800 | * | congestion | S1 | 1.3475 | * | 18 Jul high | |
| R3 | 1.3788 | ** | 1 Jul YTD high | S2 | 1.3435 | * | Sep high | |
| R2 | 1.3681 | * | 4 Jul high | S3 | 1.3370 | ** | Jun low | |
| R1 | 1.3600/32 | ** | congestion, 13 Jun high | S4 | 1.3300 | * | congestion |
Asterisk denotes strength of levelr
01:45 GMT - Consolidation below the 1.3500 level has given way to break to extend bounce from the 1.3370 low. Positive daily studies suggest room for further gains to retrace losses from the 1.3788 current year high to strong resistance at the 1.3600/32 congestion and 13 June high which is expected to cap. Clearance, if seen, will revive the upside focus and return focus to the 1.3700 congestion and 1.3788 high. Meanwhile, support is raised to the 1.3500/1.3475 area which should underpin. Failure here will return focus to 1.3400 level and 1.3370 low.