Published: 2026-07-30T07:32:25.000Z
Chart GBP/USD Update: Consolidating sharp gains
1
Cautious trade has given way to a sharp break higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3558 | ** | 15 Jul (w) high | S1 | 1.3300 | ** | congestion | |
| R3 | 1.3500 | * | congestion | S2 | 1.3275~ | * | 28 Jul low | |
| R2 | 1.3450 | * | congestion | S3 | 1.3250 | intraday break level | ||
| R1 | 1.3400 | ** | congestion | S4 | 1.3200 | ** | congestion |
Asterisk denotes strength of level
08:10 BST - Cautious trade has given way to a sharp break higher, with prices reaching 1.3385~ before settling back to 1.3445. Oversold daily stochastics are turning higher, suggesting room for a test of congestion resistance at 1.3400. But the negative daily Tension Indicator and mixed/negative weekly charts should limit any further gains in renewed selling interest towards congestion around 1.3450. Meanwhile, support is raised to congestion around 1.3300. But a close below the 1.3275~ low of 28 July would add weight to sentiment and extend mid-July losses initially towards 1.3250.