Published: 2026-07-16T01:56:30.000Z
Chart GBP/USD Update: Consolidating sharp rally
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Break above 1.3450 has seen sharp rally to extend the June gains to reach resistance at the 1.3550 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | * | congestion | S1 | 1.3500 | * | congestion | |
| R3 | 1.3650 | ** | May high | S2 | 1.3450 | ** | 10 Jul high, congestion | |
| R2 | 1.3600 | * | congestion | S3 | 1.3400 | * | congestion | |
| R1 | 1.3550 | * | congestion | S4 | 1.3342 | * | 13 Jul low |
Asterisk denotes strength of level
01:50 GMT - Break above 1.3450 has seen sharp rally to extend the June gains to reach resistance at the 1.3550 congestion. Pause here see prices unwinding overbought intraday studies with pullback to see support starting at the 1.3500 level and extending to 1.3450, 10 July high. Would expect this area to underpin and give way to renewed buying interest later. Meanwhile, break above 1.3550 will open up room for stronger gains to the 1.3600 level though potential will be seen for extension to retest the 1.3650 May high.