Published: 2025-07-18T01:51:00.000Z
Chart GBP/USD Update: Edged up from 1.3370 support
Technical Analyst
2
Extending choppy trade at the 1.3370 June low as prices consolidate losses from the 1.3788 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | 1 Jul YTD high | S1 | 1.3370 | ** | Jun low | |
| R3 | 1.3681 | * | 4 Jul high | S2 | 1.3300 | * | congestion | |
| R2 | 1.3600/32 | * | congestion, 13 Jul high | S3 | 1.3200 | * | congestion | |
| R1 | 1.3500/25 | * | congestion, 8 Jul low | S4 | 1.3140 | ** | May low, 38.2% |
Asterisk denotes strength of levelr
01:45 GMT - Extending choppy trade at the 1.3370 June low as prices consolidate losses from the 1.3788 high and unwind the oversold intraday and daily studies. However, pressure remains on the downside and a later break lower cannot be ruled out. Lower will confirm a top in place at the 1.3788 high and see room to further retrace gains from the January low to the 1.3300/1.3250 congestion. Meanwhile, resistance is at the 1.3500/25 area which is expected to cap. Clearance will ease the downside pressure and open up room for stronger bounce to 1.3600/32 area.