Published: 2025-08-07T01:50:29.000Z
Chart GBP/USD Update: Extending gains
Technical Analyst
3
Consolidation around the 1.3300 level has given way to break higher to extend gains from the 1.3140 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | * | congestion | S1 | 1.3300 | * | congestion | |
| R3 | 1.3435 | ** | 2024 year high | S2 | 1.3200 | * | congestion | |
| R2 | 1.3400 | * | congestion | S3 | 1.3140 | ** | May low, 38.2% | |
| R1 | 1.3370 | ** | 16 Jul, 23 Jun lows | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
01:45 GMT - Consolidation around the 1.3300 level has given way to break higher to extend gains from the 1.3140 low. Daily studies are tracking higher and suggest room for further gains to retrace losses from the 1.3788, July current year high. Above the 1.3370 resistance and the 1.3400 level will see room to retest strong resistance at 1.3435, the 2024 year high. Meanwhile, support is raised to the 1.3300 congestion which should underpin. Below here will return focus to the downside for retest of 1.3200 then the 1.3140 low.