Published: 2026-08-20T02:12:57.000Z
Chart GBP/USD Update: Consolidating, room for higher
1
Settled back from the 1.3630 high as prices consolidate bullish break above the 1.3550/58 July high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3750 | * | congestion | S1 | 1.3550 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3500 | * | congestion | |
| R2 | 1.3650/58 | ** | congestion, May high | S3 | 1.3475 | ** | 13 Aug low | |
| R1 | 1.3630 | * | 19 Aug high | S4 | 1.3450 | * | congestion |
Asterisk denotes strength of level
02:10 GMT - Settled back from the 1.3630 high as prices consolidate bullish break above the 1.3550/58 July high. Positive daily and weekly studies keep focus on the upside and see room for extend the broader gains from 1.3140 June current year low to retest the 1.3650/58 congestion and May high. Would expect reaction at the latter but further gains cannot be ruled out to retrace losses from the January high. Meanwhile, support is raised to the 1.3550 congestion which is expected ti underpin and sustain recent strong gains from the 1.3275 late-July low.