Published: 2025-06-10T07:32:47.000Z
Chart GBP/USD Update: Under pressure
Senior Technical Strategist
2
Cautious trade has given way to sharp selling interest
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3750~ | ** | January 2022 (y) high | S1 | 1.3400 | congestion | ||
| R3 | 1.3650 | * | congestion | S2 | 1.3300 | break level | ||
| R2 | 1.3600/15 | ** | cong; 5 Jun YTD high | S3 | 1.3250~ | * | range lows | |
| R1 | 1.3500 | ** | congestion | S4 | 1.3140 | ** | 12 May (m) low |
Asterisk denotes strength of level
08:10 BST - Cautious trade has given way to sharp selling interest, with the break below 1.3500 currently trading around 1.3465. Intraday studies have turned down and daily readings continue to fall, adding weight to sentiment and putting focus on congestion support at 1.3400. By-then oversold intraday studies could limit any initial tests in consolidation. But negative weekly charts suggest room for a later break. Meanwhile, a close back above congestion resistance at 1.3500, if seen, will turn sentiment neutral once again and prompt consolidation beneath critical resistance at 1.3600/15.