Published: 2025-09-02T07:28:47.000Z
Chart GBP/USD Update: Leaning lower
Senior Technical Strategist
5
Cautious trade beneath resistance at 1.3550 has given way to a sharp pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3681 | 4 Jul high | S1 | 1.3400 | * | congestion | ||
| R3 | 1.3590/00 | ** | 24 Jul (w) high; cong | S2 | 1.3300 | * | congestion | |
| R2 | 1.3550 | intraday break level | S3 | 1.3200 | * | congestion | ||
| R1 | 1.3500 | ** | congestion | S4 | 1.3140 | ** | May-Aug lows |
Asterisk denotes strength of level
08:10 BST - Cautious trade beneath resistance at 1.3550 has given way to a sharp pullback, with the break below 1.3500 currently trading around 1.3450. Intraday studies are falling and daily readings are coming under pressure, highlighting room for a test of congestion support at 1.3400. Broader weekly charts are also turning down, pointing to room for a later break beneath here towards further congestion around 1.3300. Meanwhile, resistance is at congestion around 1.3500 and extends to 1.3550. This range should continue to cap any immediate tests higher.