Published: 2025-07-10T07:28:33.000Z
Chart GBP/USD Update: Consolidating - studies under pressure
Senior Technical Strategist
4
Little change, as prices extend cautious trade around congestion resistance at 1.3600
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | 1 Jul YTD high | S1 | 1.3500 | ** | congestion | |
| R3 | 1.3700 | break level | S2 | 1.3400 | * | congestion | ||
| R2 | 1.3650 | congestion | S3 | 1.3370 | * | 23 Jun (m) low | ||
| R1 | 1.3600 | * | congestion | S4 | 1.3300 | * | congestion |
Asterisk denotes strength of level
08:10 BST - Little change, as prices extend cautious trade around congestion resistance at 1.3600. Intraday studies are rising, highlighting room for a test of congestion resistance at 1.3650. But negative daily readings and deteriorating weekly charts are expected to limit any further break in renewed selling interest beneath 1.3700. Following cautious trade, fresh losses are looked for. Focus is expected to turn back to congestion support at 1.3500, with room for a break and continuation of July losses down to strong support at the 1.3370 monthly low of 23 June and congestion around 1.3400.