Published: 2026-07-31T02:23:16.000Z
Chart GBP/USD Update: Room to extend gains
2
Break above the 1.3400 level has seen gains to reach 1.3477 high before settling into consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3650/58 | ** | congestion, May high | S1 | 1.3400 | * | congestion | |
| R3 | 1.3600 | * | 17 Apr high, congestion | S2 | 1.3350 | * | congestion | |
| R2 | 1.3558 | ** | 15 Jul high | S3 | 1.3300 | ** | May low, congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3275 | ** | 28 Jul low |
Asterisk denotes strength of level
02:15 GMT - Break above the 1.3400 level has seen gains to reach 1.3477 high before settling into consolidation. Positive daily and weekly studies suggest this giving way to further gains to extend bounce from the 1.3275 low to target the 1.3500 level. Clearance here will turn focus to the 1.3550/58 congestion and mid-July high. Meanwhile, support is raised to the 1.3400 congestion which should underpin and limit corrective pullback. Below here will leave the way open for deeper corrective pullback to 1.3350 congestion.