Published: 2026-07-06T07:35:04.000Z
Chart GBP/USD Update: Leaning lower, but downside to remain limited
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Choppy trade beneath the 1.3385 weekly high of 2 July is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3483 | * | 5 Jun (m) high | S1 | 1.3300 | ** | congestion | |
| R3 | 1.3450 | ** | congestion | S2 | 1.3250 | intraday break level | ||
| R2 | 1.3400 | ** | congestion | S3 | 1.3200 | ** | congestion | |
| R1 | 1.3385 | 2 Jul (w) high | S4 | 1.3140 | 24 Jun YTD low |
Asterisk denotes strength of level
08:10 BST - Choppy trade beneath the 1.3385 weekly high of 2 July is giving way to a drift lower, as intraday studies remain under pressure, with prices currently trading around 1.3340. Focus is on congestion support at 1.3300. But rising daily studies and mixed/positive weekly charts should limit any initial tests in fresh consolidation. Meanwhile, a close above 1.3385 would help to improve sentiment and extend late-June gains beyond congestion around 1.3400 towards further congestion around 1.3450.