Published: 2026-08-05T01:44:24.000Z
Chart GBP/USD Update: Shallow pullback
-
Settled back from test of the 1.3500 level as prices consolidate strong gains from the 1.3275 low of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3650/58 | ** | congestion, May high | S1 | 1.3400 | * | congestion | |
| R3 | 1.3600 | * | 17 Apr high, congestion | S2 | 1.3350 | * | congestion | |
| R2 | 1.3558 | ** | 15 Jul high | S3 | 1.3300 | ** | May low, congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3275 | ** | 28 Jul low |
Asterisk denotes strength of level
01:40 GMT - Settled back from test of the 1.3500 level as prices consolidate strong gains from the 1.3275 low of last week. Pullback see support at the 1.3400 level which should underpin. Break here will open up room for deeper correction to support at the 1.3350 congestion. Corrective pullback are expected to give way to renewed buying interest later, break above the 1.3500 level will turn focus to the 1.3550/58 congestion and mid-July high. Above the latter will extend the broader gains from the June current year low and return focus to the 1.3650/58, May highs.