09:30 UTC
Broad range, mild upward drift · RSI 48 · price 1.34605
Rotational, holding above EMA50.
GBPUSD has been carving out a multi-week range between 1.3400 and 1.3660 since early May, with price now pinned near the range floor and EMA20 capping rallies around 1.3490. The broader picture remains a corrective drift after February's 1.3850 high, but price continues to hold above a flattening EMA50, leaving the wider structure rotational rather than directional. RSI sits mid-range, consistent with the lack of trend conviction.
Support: 1.3400, 1.3315, 1.3160
Resistance: 1.3490, 1.3660, 1.3850
What it said to watch
- Daily close below 1.3400 opens the path to the 1.3315 swing low
- Reclaim of EMA20 near 1.3490 would shift the read back toward 1.3660 prior high
- Loss of 1.3160 Apr low would mark a lower-low on the swing structure