Published: 2026-06-16T07:27:54.000Z
Chart GBP/USD Update: Consolidating - background studies under pressure
1
Consolidation around 1.3435 has given way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | congestion | S1 | 1.3400 | ** | congestion | |
| R3 | 1.3550 | * | congestion | S2 | 1.3350 | break level | ||
| R2 | 1.3500 | ** | congestion | S3 | 1.3300 | ** | congestion | |
| R1 | 1.3450 | break level | S4 | 1.3275 | ** | 76.4% ret of Mar-May rally |
Asterisk denotes strength of level
08:10 BST - Consolidation around 1.3435 has given way to a drift lower, as intraday studies turn down, with prices currently pressuring congestion support at 1.3400. A break will open up support at 1.3350. But rising daily readings should limit any initial tests in fresh consolidation, before deteriorating weekly charts add weight to sentiment and open up a test of congestion support at 1.3300. Meanwhile, resistance remains at 1.3450. Any tests above here should be limited in renewed selling interest towards congestion around 1.3500.