Chart GBP/USD Update: Balanced beneath 2025 year highs - studies leaning lower
Still little change
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3750~ | ** | January 2022 (y) high | S1 | 1.3500 | ** | congestion | |
| R3 | 1.3650 | * | congestion | S2 | 1.3400/15 | * | cong; 29 May (w) low | |
| R2 | 1.3632 | ** | 12 Jun YTD high | S3 | 1.3300 | break level | ||
| R1 | 1.3600 | * | congestion | S4 | 1.3250~ | * | range lows |
Asterisk denotes strength of level
08:10 BST - Still little change, as prices extend consolidation beneath congestion resistance at 1.3600. Intraday studies have turned down and daily readings are also under pressure, highlighting room for a pullback towards congestion support at 1.3500. A break will add weight to sentiment and open up support at congestion around 1.3400 and the 1.3415 weekly low of 29 May. But improving weekly charts are expected to limit any initial tests of this range in fresh consolidation/buying interest. Meanwhile, resistance remains at congestion around 1.3600 and extends to the 1.3632 current year high of 12 June. A later close above here will turn sentiment positive, and extend September 2022 gains beyond congestion around 1.3650 towards the 1.3750~ year high of January 2022.