Published: 2025-07-04T01:48:07.000Z
Chart GBP/USD Update: Consolidating, room to extend corrective pullback
Technical Analyst
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Range-bound above the 1.3562 mid-week low as prices consolidate pullback from the 1.3788 current year high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | * | congestion | S1 | 1.3632/00 | * | 13 Jun high, congestion | |
| R3 | 1.3835 | * | Oct 2021 high | S2 | 1.3500 | * | congestion | |
| R2 | 1.3788 | ** | 1 Jul YTD high | S3 | 1.3435 | * | Sep 2024 year high | |
| R1 | 1.3700 | * | congestion | S4 | 1.3370 | ** | 23 Jun low |
Asterisk denotes strength of levelr
01:45 GMT - Range-bound above the 1.3562 mid-week low as prices consolidate pullback from the 1.3788 current year high. Prices are unwinding the overbought daily studies and suggest room for deeper pullback to retrace gains from the 1.3370 low of last week. Below the 1.3632/00 area will see room to support at 1.3500 level and 1.3435. Meanwhile, resistance is lowered to the 1.3700 congestion which is expected to cap. Clearance here, will expose the 1.3788 high to retest and see room to extend the underlying bull trend from September 2022 low.