Multi-month decline from the early-May peak at 1.3658 into the June low at 1.3140, with price still under a falling EMA50 on D1. The past week has been a sharp recovery to two-week highs, driven by USD weakness after the June NFP miss (57K vs 110K), reclaiming EMA20 but stalling below the 1.3410 100-DMA cap. A base near 1.3140–1.3160 has held twice, keeping a broad double-bottom structure in view.
Support: 1.3300, 1.3265, 1.3140
Resistance: 1.3410, 1.3475, 1.3653
What it said to watch
Daily close above 1.3410 100-dma cap opens the path toward 1.3475
Failure to hold 1.3300 psych, then 1.3265 swing low, revives the downtrend
US ISM Services Mon and FOMC minutes Wed are USD-led risks that could shift this read
Lower highs from April peak, higher low off June base.
Cable has been in a downtrend since the early-April peak near 1.3660, printing lower highs into the mid-June low at 1.3140. The last two weeks show a corrective bounce back to ~1.3350, driven by a USD sell-off on the soft June NFP miss rather than sterling strength; price sits above EMA20 but still below a declining EMA50. The 1.3410 area, aligned with the 100-DMA cap, is the immediate ceiling to this recovery.
Support: 1.3300, 1.3265, 1.3140
Resistance: 1.3410, 1.3505
What it said to watch
Daily close above 1.3410 (100-dma cap) opens the path toward 1.3505 prior high
Failure to hold 1.3300 psych reopens 1.3265 support, then the 1.3140 June low
ISM Services Mon and FOMC minutes Wed could shift this USD-led read