Chart GBP/USD Update: Pressuring strong support at 1.3370/00 - studies leaning lower
Little change, as mixed/negative intraday studies and flat oversold daily stochastics keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | break level | S1 | 1.3400 | * | congestion | ||
| R3 | 1.3650 | congestion | S2 | 1.3370 | * | 23 Jun (m) low | ||
| R2 | 1.3600 | * | congestion | S3 | 1.3300 | * | congestion | |
| R1 | 1.3500 | ** | congestion | S4 | 1.3250 | * | congestion lows |
Asterisk denotes strength of level
08:10 BST - Little change, as mixed/negative intraday studies and flat oversold daily stochastics keep near-term sentiment cautious and prompt further choppy trade within support at the 1.3370 monthly low of 23 June and congestion around 1.3400. The daily Tension Indicator continues to track lower and broader weekly charts are bearish, highlighting room for a later break beneath here. A close below 1.3370 will confirm a near-term top in place at the 1.3788 current year high of 1 July, as prices extend losses below the rising January trendline, initially opening up a test of 1.3300. Meanwhile, resistance remains at congestion around 1.3500 and should continue to cap any immediate tests higher.