Published: 2026-07-09T01:49:44.000Z
Chart GBP/USD Update: Extend consolidation at 1.3400
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Return to pressure the 1.3400 level following bounce from the 1.3322 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | * | congestion | S1 | 1.3300 | ** | May low | |
| R3 | 1.3500/10 | ** | congestion, 25 May high | S2 | 1.3250 | * | congestion | |
| R2 | 1.3450 | * | congestion | S3 | 1.3200 | * | congestion | |
| R1 | 1.3400 | * | congestion | S4 | 1.3140 | ** | 24 Jun YTD low |
Asterisk denotes strength of level
01:40 GMT - Return to pressure the 1.3400 level following bounce from the 1.3322 low. Overbought daily studies suggest further consolidation likely before scope for break to extend strong gains from the 1.3140 June current year low. Clearance will see room to further retrace the May/June losses and see room to 1.3450 congestion. Beyond this, will turn focus to strong resistance at 1.3500/10 congestion. Meanwhile, support at the 1.3322/1.3300 lows are expected to underpin. Would take break here to return focus to the 1.3160/40 lows.