Published: 2025-06-23T01:58:02.000Z
Chart GBP/USD Update: Consolidating at 1.3400, room for lower later
Technical Analyst
3
Under pressure as consolidation at the 1.3400 level has met with renewed selling pressure from the 1.3510 high on Friday
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | * | congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3632 | ** | 13 Jun YTD high | S2 | 1.3360 | * | congestion | |
| R2 | 1.3600 | * | congestion | S3 | 1.3250/00 | * | congestion | |
| R1 | 1.3500/10 | * | congestion, 20 Jun high | S4 | 1.3142/40 | ** | 2023 year high, May low |
Asterisk denotes strength of levelr
01:50 GMT - Under pressure as consolidation at the 1.3400 level has met with renewed selling pressure from the 1.3510 high on Friday. Break of the 1.3400 level will open for deeper pullback to retrace rally from the 1.3140, May low. Lower will see room to support at 1.3360 then the 1.3250/00 congestion. Below this, will return focus to the 1.3140 low and see room for deeper correction of rally from the 1.2100, January low. Meanwhile, resistance is lowered to the 1.3500/10 area which is expected to cap and sustain losses from the 1.3632, 13 June YTD high.