Published: 2026-07-10T07:34:01.000Z
Chart GBP/USD Update: Approaching strong resistance
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The anticipated test of congestion resistance at 1.3450 is giving way to consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | * | congestion | S1 | 1.3400 | ** | congestion | |
| R3 | 1.3500/10 | ** | congestion; 25 May (w) high | S2 | 1.3300 | ** | congestion | |
| R2 | 1.3483 | * | 5 Jun (m) high | S3 | 1.3250 | intraday break level | ||
| R1 | 1.3450 | ** | congestion | S4 | 1.3200 | ** | congestion |
Asterisk denotes strength of level
08:10 BST - The anticipated test of congestion resistance at 1.3450 is giving way to consolidation, with prices currently trading around 1.3425. Daily readings are positive and broader weekly charts are improving, highlighting room for further gains in the coming sessions. A break above 1.3450 will open up resistance within the 1.3483 - 1.3510 range, where already overbought daily stochastics could prompt profit-taking/consolidation. Meanwhile, support remains at congestion around 1.3400. A close beneath here would help to stabilise price action and prompt consolidation above further congestion around 1.3300.