Published: 2025-07-31T02:07:15.000Z
Chart GBP/USD Update: Still room to extend losses
Technical Analyst
2
Consolidation above the 1.3300 level has given way to break to further extend losses from the 1.3788 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3435 | ** | 2024 year high | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | * | congestion | S2 | 1.3140 | ** | May low, 38.2% | |
| R2 | 1.3370 | ** | 16 Jul/Jun lows | S3 | 1.3100 | * | congestion | |
| R1 | 1.3300 | * | congestion | S4 | 1.3000 | ** | figure, congestion |
Asterisk denotes strength of levelr
02:00 GMT - Consolidation above the 1.3300 level has given way to break to further extend losses from the 1.3788 high to approach the 1.3200 level. Negative daily and weekly studies see risk for further losses to extend bearish momentum from the July high. Lower will see room to strong support at the 1.3140, May low and 38.2% Fibonacci level. Meanwhile, resistance is lowered to 1.3300 level and this extend to 1.3370 previous lows. This area is expected to cap and sustain losses from the 1.3588 high of last week.