Published: 2026-07-28T07:27:44.000Z
Chart GBP/USD Update: Leaning lower
2
Cautious trade has given way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | * | congestion | S1 | 1.3250 | intraday break level | ||
| R3 | 1.3400 | ** | congestion | S2 | 1.3200 | ** | congestion | |
| R2 | 1.3350 | * | congestion | S3 | 1.3140 | ** | 24 Jun YTD low | |
| R1 | 1.3300 | ** | congestion | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
08:10 BST - Cautious trade has given way to a drift lower, with prices breaking below 1.3300 to reach 1.3280, before settling into consolidation around 1.3300. Oversold daily stochastics are flat, suggesting consolidation, before the bearish daily Tension Indicator and deteriorating weekly charts prompt further losses. A break below 1.3280 will open up 1.3250. But already oversold daily stochastics should limit any immediate tests beneath here in consolidation above congestion around 1.3200. Meanwhile, a close back above 1.3300 will help to stabilise price action and give way to consolidation beneath congestion around 1.3350.