Chart GBP/USD Update: Balanced at year highs - studies rising
Anticipated gains have posted a fresh year high around 1.3770
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | ** | congestion | S1 | 1.3600 | * | congestion | |
| R3 | 1.3835 | * | October 2021 high | S2 | 1.3500 | ** | congestion | |
| R2 | 1.3800 | * | break level | S3 | 1.3400 | * | congestion | |
| R1 | 1.3770 | 26 Jun YTD high | S4 | 1.3370 | 23 Jun low |
Asterisk denotes strength of level
08:10 BST - Anticipated gains have posted a fresh year high around 1.3770, before settling into consolidation beneath here as intraday studies turn down. Daily readings continue to rise and broader weekly charts have ticked higher, highlighting room for still further strength in the coming sessions. A later close above 1.3770 will extend broad September 2022 gains towards the 1.3835 high of October 2021. The flattening weekly Tension Indicator could prompt renewed selling interest around here. Meanwhile, support remains at 1.3600. A close beneath here, if seen, would turn sentiment neutral and give way to consolidation above further congestion around 1.3500.