Published: 2026-06-18T02:07:45.000Z
Chart GBP/USD Update: Consolidating losses to 1.3260 low
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Consolidation below resistance at the 1.3450 congestion has given way to sharp losses to break the 1.3300 May low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | ** | congestion | S1 | 1.3250 | * | congestion | |
| R3 | 1.3450/60 | * | congestion, 15 Jun high | S2 | 1.3210/00 | * | congestion | |
| R2 | 1.3400 | * | congestion | S3 | 1.3160 | ** | 31 Mar YTD low | |
| R1 | 1.3350 | * | congestion | S4 | 1.3100 | congestion |
Asterisk denotes strength of level
02:00 GMT - Consolidation below resistance at the 1.3450 congestion has given way to sharp losses to break the 1.3300 May low. Prices reached 1.3260 low before turning up to consolidate at the 1.3300 level. However, negative daily and weekly studies suggest this giving to renewed selling pressure later. Lower wil further extend the May losses and see room to 1.3200 level then 1.3160 March current year low. Meanwhile, resistance is lowered to the 1.3350/1.3400 congestion area which is expected to cap corrective bounce.