Published: 2026-07-30T02:17:34.000Z
Chart GBP/USD Update: Scope to extend bounce
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Consolidation at 1.3273 low has given way to rebound to reach towards the 1.3400 level as prices unwind oversold daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3558 | ** | 15 Jul high | S1 | 1.3350 | * | congestion | |
| R3 | 1.3500 | ** | congestion | S2 | 1.3300 | * | May low, congestion | |
| R2 | 1.3450 | * | congestion | S3 | 1.3273 | ** | 28 Jul low | |
| R1 | 1.3400 | * | congestion | S4 | 1.3250 | * | congestion |
Asterisk denotes strength of level
02:10 GMT - Consolidation at 1.3273 low has given way to rebound to reach towards the 1.3400 level as prices unwind oversold daily studies. Regaining the 1.3400 level will open up room for stronger recovery to 1.3450 congestion then the 1.3500 level. Clearance here will return focus to the 1.3558, July high. Meanwhile, support is raised to the 1.3350/1.3300 congestion area which should underpin and limit corrective pullback. Below here will leave the way open for choppy trade back to the 1.3200 level and 1.3140 June current year low.