Published: 2026-08-03T02:01:13.000Z
Chart GBP/USD Update: Consolidating test of 1.3500, room for higher later
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Higher at the open has seen gains to tag the 1.3500 level before settling back in consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3650/58 | ** | congestion, May high | S1 | 1.3400 | * | congestion | |
| R3 | 1.3600 | * | 17 Apr high, congestion | S2 | 1.3350 | * | congestion | |
| R2 | 1.3558 | ** | 15 Jul high | S3 | 1.3300 | ** | May low, congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3275 | ** | 28 Jul low |
Asterisk denotes strength of level
02:00 GMT - Higher at the open has seen gains to tag the 1.3500 level before settling back in consolidation as prices unwind overbought intradat studies. However, bullish momentum from the 1.3275 low of last week keep focus on the upside and see room for further gains ahead. Break above the 1.3500 level will turn focus to the 1.3550/58 congestion and mid-July high. Meanwhile, support is raised to the 1.3400 congestion which should underpin and limit corrective pullback. Break here, if seen, will leave the way open for deeper corrective pullback to 1.3350 congestion.