Published: 2025-08-08T01:51:05.000Z
Chart GBP/USD Update: Consolidating retest of 1.3435, 2024 year high
Technical Analyst
2
Sharply higher through the 1.3370 resistance and 1.3400 level has seen extension to retest 1.3435, 2024 year high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3680 | * | 4 Jul high | S1 | 1.3370 | ** | Jun, 16 Jul lows | |
| R3 | 1.3590/00 | ** | 24 Jul high, congestion | S2 | 1.3300 | * | congestion | |
| R2 | 1.3500 | * | congestion | S3 | 1.3200 | * | congestion | |
| R1 | 1.3435 | ** | 2024 year high | S4 | 1.3140 | ** | May low, 38.2% |
Asterisk denotes strength of level
01:45 GMT - Sharply higher through the 1.3370 resistance and 1.3400 level has seen extension to retest 1.3435, 2024 year high. Pause here seen prices consolidating strong gains from the 1.3140 low. However, daily studies are still tracking higher and suggest room for further gains to retrace losses from the 1.3788, July current year high. Clearance will see room to 1.3500 congestion then 1.3590 resistance. Meanwhile, support is raised to the 1.3370 congestion which should underpin. Would take break here to fade the upside pressure and open up room to the 1.3300/1.3200 congestion.