Published: 2026-07-24T07:11:41.000Z
Chart GBP/JPY Update: Consolidating at 218.00
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Extending consolidation at the 218.00 level as prices unwind overbought daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 224.00 | * | congestion | S1 | 218.00 | * | 9 Jul high | |
| R3 | 222.00 | * | Nov 2007 low | S2 | 216.60 | ** | Apr high | |
| R2 | 220.00 | * | congestion | S3 | 216.00 | * | congestion | |
| R1 | 219.60 | ** | 15 Jul YTD high | S4 | 215.50 | ** | 15 Jun high |
Asterisk denotes strength of level
07:10 GMT - Extending consolidation at the 218.00 level as prices unwind overbought daily studies following rally from the 212.40 June low. Below 218.00 will see room for deeper pullback within the bullish channel from the February year low to support at the 216.60/216.00 area and 215.50 mid-june high. Meanwhile, resistance at the 219.00 congestion and 219.60 high is expected to cap. Clearance here, will extend the underlying bull trend from the 2020 year low and see room for extension to the 220.00/222.00 congestion area.