Published: 2026-08-17T02:04:46.000Z
Chart GBP/USD Update: Pressuring July high
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Consolidation at the 1.3500 level has given way to bounce from the 1.3475 low to pressure the 1.3550/58, July high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | * | congestion | S1 | 1.3475 | * | 13 Aug low | |
| R3 | 1.3650/58 | ** | congestion, May high | S2 | 1.3450 | * | congestion | |
| R2 | 1.3600 | * | congestion | S3 | 1.3400 | ** | congestion | |
| R1 | 1.3550/58 | ** | congestion, 15 Jul high | S4 | 1.3350 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Consolidation at the 1.3500 level has given way to bounce from the 1.3475 low to pressure the 1.3550/58, July high. Daily studies have turned up and suggest scope for break here to extend gains from the June current year low at 1.3140. Clearance will see stronger recovery to retrace losses from the 1.3869, January high, to the 1.3600 level then the 1.3650 congestion. Meanwhile, support is raised to the 1.3500/1.3475 area which should underpin. Failure here, will open up room for corrective pullback to support at the 1.3450/1.3400 area.