Published: 2025-07-14T07:28:04.000Z
Chart GBP/USD Update: Extending July losses
Senior Technical Strategist
2
The anticipated break below 1.3500 has reached 1.3450
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | break level | S1 | 1.3400 | * | congestion | ||
| R3 | 1.3650 | congestion | S2 | 1.3370 | * | 23 Jun (m) low | ||
| R2 | 1.3600 | * | congestion | S3 | 1.3300 | * | congestion | |
| R1 | 1.3500 | ** | congestion | S4 | 1.3250 | * | congestion lows |
Asterisk denotes strength of level
08:10 BST - The anticipated break below 1.3500 has reached 1.3450. Intraday studies are coming under pressure and both daily and weekly readings are negative, highlighting room for still deeper losses in the coming sessions. July losses are expected to focus on congestion support at 1.3400. But a further close below the 1.3370 monthly low of 23 June will confirm a near-term top in place at the 1.3788 current year high of 1 July, and open up a test of 1.3300. Meanwhile, a close back above congestion resistance at 1.3500, if seen, would help to stabilise price action and give way to consolidation beneath further congestion around 1.3600.