Cable remains trapped in a broad multi-week range roughly 1.3210-1.3655, pivoting around the 1.34 handle where the long-term averages sit. The late-July up-leg from the 1.3284 low peaked at 1.3506 before easing back into a 1.3420-1.3470 band; price is holding above EMA(20) and EMA(50), both flat. Moves here are USD-driven, with Friday's NFP the dominant catalyst.
Support: 1.3400, 1.3284, 1.3210
Resistance: 1.3506, 1.3560, 1.3609
What it said to watch
US NFP Friday is the dominant near-term risk and could break this range either way
Daily close above 1.3506 opens the path toward 1.3560
Range-bound, no clear trend · RSI 55 · price 1.34504
Multi-week range, price mid-band.
Cable has been trapped in a broad multi-week range roughly 1.3210–1.3655 since the April rally stalled, pivoting around the EMA(50) near 1.340. The late-July bounce off 1.3273 stretched to 1.3506 before easing back into the 1.3420–1.3470 band, with the July 30 hawkish BoE hold offset by USD-driven swings. Price now sits mid-range at 1.3450, holding above both EMAs but lacking directional momentum.
Support: 1.3400, 1.3280, 1.3164
Resistance: 1.3470, 1.3506, 1.3560
What it said to watch
US NFP (Fri) is the dominant near-term risk and can drive the next break either way
Sustained break below 1.3400 negates the mild upside lean and exposes 1.3280
Daily close above 1.3506 opens the path toward the 1.3560 range top