Published: 2026-07-07T01:52:38.000Z
Chart GBP/USD Update: Extending gains
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Consolidation below the 1.3385 high has given way to renewed buying interest pressure to reach resistance at the 1.3400 congestion
| 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
01:50 GMT - Consolidation below the 1.3385 high has given way to renewed buying interest pressure to reach resistance at the 1.3400 congestion. Pressure remains on the upside and clearance here will further extend strong gains from the 1.3140 June current year low and room to resistance at the 1.3450 congestion. Break here will open up room to strong resistance at 1.3500/10, congestion and 25 May high. Meanwhile, support is raised to the 1.3350/00 congestion and May low which should now underpin and sustain strong gains from the June YTD low.