Published: 2025-07-28T02:09:19.000Z
Chart GBP/USD Update: Room for deeper pullback
Technical Analyst
4
Consolidating test of the 1.3435/1.3400 support but pullback from the 1.3588 high threatens break lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3681 | * | 4 Jul high | S1 | 1.3435/00 | * | Sep high, congestion | |
| R3 | 1.3600/32 | ** | congestion, 13 Jun high | S2 | 1.3370 | ** | Jun low | |
| R2 | 1.3588 | ** | 24 Jul high | S3 | 1.3300 | * | congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3250 | * | congestion |
Asterisk denotes strength of levelr
02:00 GMT - Consolidating test of the 1.3435/1.3400 support but pullback from the 1.3588 high threatens break here to expose the critical support at 1.3370 to retest. Daily studies are tracking lower from overbought readings and suggest scope for break here to trigger a 2-month top pattern at the 1.3788 high and see deeper correction of the January/July rally. Meanwhile, resistance is lowered to the 1.3500 congestion which is expected to cap and sustain pullback from 1.3588 high.