Chart GBP/USD Update: Pressuring critical support - studies falling
Little change, as mixed intraday studies keep near-term sentiment cautious and extend pressure on critical support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3400 | * | congestion | S1 | 1.3140~ | ** | May-Aug (m) range lows | |
| R3 | 1.3300 | * | congestion | S2 | 1.3000 | * | congestion | |
| R2 | 1.3250 | * | congestion | S3 | 1.2950 | ** | 50% ret of Jan-Jun rally | |
| R1 | 1.3200 | * | congestion | S4 | 12900 | congestion |
Asterisk denotes strength of level
08:10 GMT - Little change, as mixed intraday studies keep near-term sentiment cautious and extend pressure on critical support at the 1.3140~ May-August range lows. Daily readings continue to track lower and broader weekly charts are also under pressure, highlighting room for further losses in the coming sessions. A close beneath here would add weight to sentiment and confirm a deeper correction of the January-June rally, initially targeting congestion around 1.3000. Meanwhile, resistance remains at congestion around 1.3200. A close above here would help to stabilise price action and prompt consolidation beneath further congestion around 1.3250.