Published: 2025-07-04T07:30:53.000Z
Chart GBP/USD Update: Extending cautious trade - studies under pressure
Senior Technical Strategist
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Little change, as prices extend cautious trade around 1.3665
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3835 | * | October 2021 high | S1 | 1.3600 | * | congestion | |
| R3 | 1.3800 | * | break level | S2 | 1.3500 | ** | congestion | |
| R2 | 1.3788 | 1 Jul YTD high | S3 | 1.3400 | * | congestion | ||
| R1 | 1.3700 | break level | S4 | 1.3370 | * | 23 Jun (m) low |
Asterisk denotes strength of level
08:10 BST - Little change, as prices extend cautious trade around 1.3665. Rising intraday studies are keeping focus on resistance at 1.3700. But negative daily readings and deteriorating weekly charts are expected to limit any immediate tests in consolidation/selling interest. In the coming sessions, cautious trade is looked for, with support at 1.3600. A fresh break beneath here will open up congestion around 1.3500. However, rising longer-term charts should limit any deeper losses in renewed buying interest above 1.3400. Meanwhile, a close above 1.3700 would provide further stability and prompt consolidation beneath 1.3788.