Published: 2025-08-29T07:25:59.000Z
Chart GBP/USD Update: Consolidating - studies are mixed
Senior Technical Strategist
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The anticipated test above 1.3500 has met selling interest around 1.3530
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3681 | 4 Jul high | S1 | 1.3400 | * | congestion | ||
| R3 | 1.3590/00 | ** | 24 Jul (w) high; cong | S2 | 1.3300 | * | congestion | |
| R2 | 1.3550 | intraday break level | S3 | 1.3200 | * | congestion | ||
| R1 | 1.3500 | ** | congestion | S4 | 1.3140~ | * | May-Aug lows |
Asterisk denotes strength of level
08:10 BST - The anticipated test above 1.3500 has met selling interest around 1.3530, as overbought intraday studies unwind, with prices once again trading below 1.3500. A minor pullback is highlighted. But mixed daily and weekly charts are expected to limit initial scope in consolidation above congestion support at 1.3400. A break, however, will add weight to sentiment and extend losses towards further congestion around 1.3300, where fresh consolidation is expected to appear. Meanwhile, resistance remains at congestion around 1.3500 and extends to 1.3550. This range should cap any immediate tests higher.