Published: 2025-08-06T07:30:59.000Z
Chart GBP/USD Update: Consolidating - studies under pressure
Senior Technical Strategist
1
Little change, as prices extend consolidation around 1.3300
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | ** | congestion | S1 | 1.3200 | minor congestion | ||
| R3 | 1.3400 | * | congestion | S2 | 1.3140 | ** | 12 May (m) low | |
| R2 | 1.3370 | * | 23 Jun (m) low | S3 | 1.3000 | ** | break level | |
| R1 | 1.3300 | * | congestion | S4 | 1.2945 | * | 50% ret of Jan-Jul rally |
Asterisk denotes strength of level
08:10 BST - Little change, as prices extend consolidation around 1.3300. Intraday studies are under pressure and rising daily readings are showing signs of flattening, suggesting any immediate break above here could meet renewed selling interest towards the 1.3370 monthly low of 23 June and congestion around 1.3400. Meanwhile, support remains at minor congestion around 1.3200. Negative weekly charts highlight room for a later test of here. But a further close below the 1.3140 monthly low of 12 May, not yet seen, will turn sentiment negative and extend July losses towards 1.3000.