Published: 2025-07-21T01:45:55.000Z
Chart GBP/USD Update: Shallow bounce from 1.3370 support
Technical Analyst
2
Turned up from retest of the 1.3370 June low as prices consolidate losses from the 1.3788 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | 1 Jul YTD high | S1 | 1.3370/65 | ** | Jun low | |
| R3 | 1.3681 | * | 4 Jul high | S2 | 1.3300 | * | congestion | |
| R2 | 1.3600/32 | ** | congestion, 13 Jul high | S3 | 1.3200 | * | congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3140 | ** | May low, 38.2% |
Asterisk denotes strength of levelr
01:40 GMT - Turned up from retest of the 1.3370 June low as prices consolidate losses from the 1.3788 high and unwind the oversold intraday and daily studies. Limited bounce keeps pressure on the downside and a later break lower cannot be ruled out. Lower will confirm a 2-month top at the 1.3788 high and see room for deeper pullback to retrace gains from the January low to the 1.3300/1.3250 congestion. Meanwhile, resistance is at the 1.3500 congestion which is expected to cap. Clearance will ease the downside pressure and open up room for stronger bounce to 1.3600/32 area.