Published: 2025-08-28T07:27:51.000Z
Chart GBP/USD Update: Higher in range - background under pressure
Senior Technical Strategist
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Anticipated losses have bounced from 1.3415~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3681 | 4 Jul high | S1 | 1.3400 | * | congestion | ||
| R3 | 1.3590/00 | ** | 24 Jul (w) high; cong | S2 | 1.3300 | * | congestion | |
| R2 | 1.3550 | intraday break level | S3 | 1.3200 | * | congestion | ||
| R1 | 1.3500 | ** | congestion | S4 | 1.3140~ | * | May-Aug lows |
Asterisk denotes strength of level
08:10 BST - Anticipated losses have bounced from 1.3415~, as oversold intraday studies unwind, with prices currently balanced back at congestion resistance around 1.3500. Negative daily readings are flattening, suggesting a minor improvement in sentiment and room for a test above 1.3500 towards 1.3550. But mixed/negative weekly charts should limit any extension beyond here in renewed selling interest towards strong resistance at 1.3490/00. Meanwhile, support remains down to congestion around 1.3400. A close beneath here would add weight to sentiment and open up further congestion around 1.3300.