Published: 2025-08-04T02:03:42.000Z
Chart GBP/USD Update: Turned up from retest of 1.3140 support
Technical Analyst
2
Limited on break of the 1.3200 level as prices staged rebound from the May low at 1.3140
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3435 | ** | 2024 year high | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | * | congestion | S2 | 1.3140 | ** | May low, 38.2% | |
| R2 | 1.3370 | ** | 16 Jul/Jun lows | S3 | 1.3100 | * | congestion | |
| R1 | 1.3300 | * | congestion | S4 | 1.3000 | ** | figure, congestion |
Asterisk denotes strength of levelr
02:00 GMT - Limited on break of the 1.3200 level as prices staged rebound from the May low at 1.3140 to retest resistance at the 1.3300 congestion. Daily studies have turned up from oversold areas and suggest consolidation here to give way to break later to further retrace losses from the 1.3788, July current year high. Higher will see room to retest resistance at the 1.3370 previous lows. Meanwhile, support at the 1.3200 congestion is expected to underpin and sustain bounce from the 1.3140 low.