Published: 2026-07-08T07:29:27.000Z
Chart GBP/USD Update: Cautious trade
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Consolidation beneath congestion resistance at 1.3400 has given way to a pullback to 1.3340
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500/10 | ** | congestion; 25 May (w) high | S1 | 1.3300 | ** | congestion | |
| R3 | 1.3483 | * | 5 Jun (m) high | S2 | 1.3250 | intraday break level | ||
| R2 | 1.3450 | ** | congestion | S3 | 1.3200 | ** | congestion | |
| R1 | 1.3400 | ** | congestion | S4 | 1.3140 | 24 Jun YTD low |
Asterisk denotes strength of level
08:10 BST - Consolidation beneath congestion resistance at 1.3400 has given way to a pullback to 1.3340, before bouncing into consolidation around 1.3360. Overbought daily stochastics are turning down, highlighting potential for further losses towards congestion support at 1.3300. But the positive daily Tension Indicator and mixed/positive weekly charts should limit any immediate tests in renewed consolidation. Meanwhile, bearish long-term charts should limit any tests above 1.3400 in renewed selling interest beneath further congestion around 1.3450.