Published: 2026-07-01T02:05:23.000Z
Chart GBP/USD Update: Consolidating, room for stronger bounce
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Settled back from the 1.3277 high as prices consolidate bounce from the 1.3160/40 support and 24 June current year low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3400 | * | congestion | S1 | 1.3200 | * | congestion | |
| R3 | 1.3350 | congestion | S2 | 1.3160 | * | Mar low | ||
| R2 | 1.3300 | ** | congestion, May low | S3 | 1.3140 | ** | 24 Jun YTD low | |
| R1 | 1.3250 | * | congestion | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Settled back from the 1.3277 high as prices consolidate bounce from the 1.3160/40 support and 24 June current year low. Daily studies are unwinding oversold readings and suggest consolidation giving way to further gains later strong resistance at the 1.3300 May low. Would expect reaction here while a later break open up room for stronger recovery to resistance at the 1.3350/1.3400 area. Meanwhile, support remains at the 1.3200 level which should now underpin. Failure here will expose the 1.3160 and 1.3140 lows to retest and threaten extension of the January losses.