Double top near 1.3500, lower highs since Thursday.
The post-midterm USD sell-off drove this week's dominant leg, carrying cable from 1.3408 late Tuesday through Wednesday's Asia and London sessions to a 1.3503 week high. Thursday's London-open retest of 1.3500 was rejected, which completes a double top. The BoE hike lifted price only to a lower high at 1.3486, and NY hours faded back below EMA(20) and EMA(50) to the Thursday low at 1.3443, the 61.8% retracement of the midterm impulse, with RSI(14) near 41.
Support: 1.3443, 1.3432, 1.3400
Resistance: 1.3464, 1.3486, 1.3503
What it said to watch
H1 close below the 1.3443 Thursday low extends the break of the double top's Wednesday 1.3454 neckline and exposes the 1.3432 Tuesday high, then the 1.3400 round number
Hourly closes back above EMA(20) near 1.3464 would show the 61.8% zone holding
A move through the 1.3486 lower high and the lower-highs trendline negates the double top read and reopens 1.3503
Fed's Williams (09:30 UTC) and US NFP Fri 13:30 UTC (f/c 65K) could materially shift this read
Double top at 1.3500, lower highs since Thursday London open, floor at 1.3446.
The week opened at 1.3385 and spent Monday–Tuesday boxed between 1.3396 and the tue high at 1.3432. The dominant leg came at Wednesday's Asia open on the post-midterm USD selloff, carrying cable to the week high at 1.3503 during the London-NY transition. Since then the pair has formed a double top. Thursday's London retest failed at 1.3501, and the BoE 9-0 hike spike stalled at the lower high near 1.3486 as firm US claims capped GBP. Price now sits below the ema20 at 1.3467 with RSI(14) near 41. It is pressing the thu low at 1.3446, which sits close to the 61.8% retracement of Wednesday's impulse.
Support: 1.3446, 1.3432, 1.3400
Resistance: 1.3467, 1.3486, 1.3503
What it said to watch
H1 close below the thu low at 1.3446 completes the double top break and exposes the tue high at 1.3432, then the 1.3400 round number
Reclaiming the ema20 at 1.3467 and closing above the lower high at 1.3486 trendline neutralises the double top read
Acceptance back above the 1.3503 week high would reopen the breakout structure
US NFP Fri 13:30 UTC (f/c 65K) and Fed's Williams at 09:30 UTC could materially shift this read
21:01 UTC
Weekly uptrend stalling, rolling over below 1.3500 · RSI 40 · price 1.34484
Double top at 1.3500-1.3503, lower highs, neckline 1.3454 broken.
The week's dominant leg came in Wednesday's Asia session on the post-midterm USD selloff, lifting cable from the 1.3385 weekly open area to 1.3503 by London. Thursday's London push stalled at 1.3501 to form a double top. The BoE hike spike faded from a 1.3486 lower high in NY as firm US claims supported USD. Price now trades below EMA(20) and EMA(50) and under the 1.3454 neckline, with RSI(14) near 40, testing the 1.3448 Thursday low, Monday's high and the 50% fib of the Tue–Wed impulse.
Support: 1.3448, 1.3432, 1.3400
Resistance: 1.3454, 1.3486, 1.3503
What it said to watch
H1 close below 1.3448 thu low exposes the 1.3432 tue high and the 61.8% fib near 1.3437
Loss of 1.3432 opens the 1.3400 round number, near the double top measured move (~1.3405)
Reclaim of the 1.3454 neckline negates the double top break; a close above the 1.3486 lower high breaks the lower-highs line
US NFP Fri 13:30 UTC (f/c 65K) and Fed's Williams at 09:30 UTC could materially shift this read
1.3448–1.3503 range since Wednesday; lower highs Thursday.
Cable gained about 115 pips from the 1.3385 weekly open. The bulk of it came in Wednesday's post-midterm USD selloff, which ran from the Asia session into the NY open and set the 1.3503 week high. Thursday's London open retest at 1.3501 failed, and the BoE spike to 1.3482 was faded as firm US claims supported the dollar. NY then printed a 1.3486 lower high before sliding back to the 1.3448 swing low, which has now held three times. Price sits below EMA(20) near 1.3470 and has slipped under EMA(50). RSI(14) is around 40, and the session sits near the 50% retracement of Wednesday's impulse.
Support: 1.3448, 1.3432, 1.3385
Resistance: 1.3470, 1.3486, 1.3503
What it said to watch
H1 close below the 1.3448 swing low completes the double top below the week high and exposes the 1.3432 tuesday high, the Wednesday breakout point
Below 1.3432, the next level is the 1.3385 weekly open
Recovery above ema20 and the 1.3486 lower high breaks Thursday's descending line and reopens the 1.3503 week high
US NFP Fri 13:30 UTC (f/c 65K) could materially shift this read, with Fed's Williams at 09:30 UTC
1.3448–1.3503 range since Wednesday, equal lows and twin highs.
Cable rallied from the 1.3385 weekly open through Monday's London session. The post-midterm USD sell-off late Tuesday carried it to a 1.3503 week high in Wednesday's NY session, and it has since ranged between 1.3448 and 1.3503, with a near-identical 1.3501 tag at Thursday's London open forming a double top. The 9-0 BoE hike lifted price off the 1.3448 range low (Monday's high, near the 38.2% retracement of the week's impulse) to a 1.3486 NY high. That gain was erased as firm US claims supported the dollar, leaving price below EMA(20) at 1.3472, pressing EMA(50) and with RSI(14) near 42.
Support: 1.3448, 1.3396
Resistance: 1.3472, 1.3486, 1.3503
What it said to watch
H1 close below the 1.3448 range low completes the double top and opens the 50% fib at 1.3441, then the Tuesday low near 1.3396
Reclaim of ema20 at 1.3472 and the 1.3486 ny high returns focus to the week high
Close above the 1.3503 week high breaks the range and the lower-highs line
US NFP Fri 13:30 UTC (f/c 65K) could materially shift this read
Cable has gained about 115 pips from the 1.3385 weekly open. Monday's London rally started the move, and Wednesday's post-midterm USD sell-off carried it to the 1.3503 week high during the Asia and London sessions. Thursday's London push stalled at 1.3501, putting a potential double top in place at the range top, and the BoE hike was faded to the 1.3448 BoE low before the NY session rebuilt the price toward 1.3481, back above EMA(20). RSI(14) has cooled to the high 40s, and the BoE low sits just above the fib 50% retracement of the week's impulse. The 38.2% level (1.3456) has already been tested twice.
Support: 1.3475, 1.3448, 1.3441
Resistance: 1.3484, 1.3503
What it said to watch
H1 close above the 1.3503 week high breaks the range top and voids the double-top read
Failure to hold the 1.3448 BoE low confirms the double top and exposes the fib 50% at 1.3441
Post-BoE high at 1.3484 is the first cap. Repeated rejection there with price slipping under EMA(20) would keep the range intact
US NFP Fri 13:30 UTC (f/c 65K), with Williams at 09:30 UTC, could materially shift this read
Cable broke out of Monday's range late Tuesday on the post-midterm USD sell-off and carried through the Asia session and London to a 1.3503 week high, but NY reversed it and Thursday's London open was rejected at 1.3501, leaving twin tops. The pullback retested the old range top at 1.3448, Monday's high and near the 50% fib of the impulse. The BoE-hour high at 1.3484 then faded as strong US claims lifted USD, offsetting the 9-0 hike. Price now sits just above EMA(20) near 1.3472 with RSI(14) back to the mid-50s.
Support: 1.3472, 1.3448, 1.3385
Resistance: 1.3484, 1.3503
What it said to watch
H1 close above the 1.3503 week high breaks the twin tops and ends the range read
Acceptance back above the 1.3484 BoE high is needed to put the twin tops back in play
Failure to hold the 1.3448 range top and 50% fib reopens the move back toward the 1.3385 weekly open
US NFP Fri 13:30 UTC, with Fed's Williams at 09:30 UTC, could materially shift this read
Cable has climbed from the 1.3385 weekly open, with Monday's London session lifting it to 1.3448 and the post-midterm USD sell-off breaking it out of the 1.3400–1.3432 range top in Wednesday's Asia session. A double top has formed at 1.3503/1.3501 after Thursday's London open rejection. The priced-in 9-0 BoE hike dipped price to the thu low at 1.3448, near the 50–61.8% retracement of the election leg, before a bounce to 1.3482. Price now sits back below EMA20 near 1.3470, with RSI(14) at 42.
Support: 1.3448, 1.3432
Resistance: 1.3470, 1.3503
What it said to watch
H1 close below the 1.3448 thu low breaks the higher-lows trendline and confirms the double top
Failure to reclaim EMA20 around 1.3470 keeps the 1.3500 rejection in focus
H1 close above the 1.3503 double top invalidates the topping read and extends the uptrend
Loss of 1.3448 exposes the 1.3432 range top as the next support
US NFP Fri 13:30 UTC (f/c 65K) and Williams at 09:30 UTC could materially shift this read
1.3448–1.3503 range after breakout; double top, neckline intact.
Cable broke out of the Monday–Tuesday 1.3396–1.3448 range on the post-midterm dollar selloff late Tuesday. The rally then stalled at a double top of 1.3503 on Wednesday and 1.3501 early Thursday. Thursday's slide held the 1.3448 neckline, near the 50% retracement of the move up from the Tuesday low, and the BoE's 9-0 hike lifted price only to a 1.3482 BoE high before it faded back below EMA(20) at 1.3471. Price now sits on EMA(50) at about 1.3460, with RSI(14) at 44, rolled over from the 60s.
Support: 1.3448, 1.3396, 1.3385
Resistance: 1.3471, 1.3482, 1.3503
What it said to watch
H1 close below the 1.3448 neckline would confirm the double top and expose the Tuesday low at 1.3396 and the weekly open at 1.3385
A recovery above EMA(20) and the 1.3482 BoE high would put the 1.3500–1.3503 double top back in focus; a close above it voids the pattern
US NFP on Fri 13:30 GMT (f/c 65K, ADP 86K) could materially shift this read via USD repricing
Double top at the week high, pullback testing Monday-high support.
Cable broke out of the Monday–Tuesday 1.3396–1.3432 range during Wednesday's Asia session as USD sold off on the US midterm blue sweep, and London-to-NY flows carried it to a week high of 1.3503. Thursday's London open rejected a retest at 1.3501, leaving a double top, and the slide stalled at the Monday high of 1.3448 before the 9-0 BoE hike lifted price to 1.3482, now the boe high. Price sits below ema20 at 1.3472 and just above ema50 at 1.3460, with RSI(14) back in the mid-40s near the 38.2% retracement of the week's rally.
Support: 1.3460, 1.3448, 1.3409
Resistance: 1.3472, 1.3482, 1.3503
What it said to watch
H1 close below the Monday high at 1.3448 completes the double top and exposes the range top at 1.3409
A move back through ema20 at 1.3472 and the boe high at 1.3482 returns focus to the 1.3503 week high
Sustained H1 closes below ema50 at 1.3460 would erode Wednesday's breakout structure
US NFP Fri 13:30 UTC (f/c 65K) could materially shift this read
Double top at 1.3500, pullback testing 38.2% of week's impulse.
The week's dominant move came in Wednesday's Asia session, when USD sold off on the Democratic midterm sweep. That lifted cable out of the Monday–Tuesday range (range top 1.3432) to 1.3503, and the level was rejected again at Thursday's London open to form a double top. Price has since slipped below EMA(20) near 1.3472 and the rising line from Monday's low, with RSI(14) easing to ~45. The fully priced BoE hike briefly pushed price to the 1.3448 boe low, just under Wednesday's 1.3454 swing low at the 38.2% retracement of the week's impulse, a false break that bounced but stalled near the 1.3482 boe high.
Support: 1.3448, 1.3432, 1.3385
Resistance: 1.3472, 1.3482, 1.3503
What it said to watch
Hourly closes back above ema20 and the 1.3482 boe high would put the 1.3503 double top back in play
A sustained break below the 1.3448 boe low confirms the double top and exposes the 1.3432 range top and the 50% fib near 1.3441
Losing the 1.3432 range top brings the 1.3385 weekly open into view
Bailey's ongoing presser and US jobless claims at 13:30 GMT could shift this read, with Friday's NFP the larger risk
1.3454–1.3503 consolidation after Wednesday's breakout, potential double top.
Cable is up about 120 pips from Sunday's 1.3385 open. The dominant leg came in Wednesday's Asia session on post-midterm USD selling and carried to a 1.3503 week high in London. NY then faded the move to 1.3454, roughly the 50% retracement of the impulse. Thursday's Asia grind retested 1.3501 and met a rejection at the London open, leaving a potential double top with a 1.3454 neckline. Price now sits below EMA(20) at 1.3474 and on EMA(50) near 1.3460, with RSI(14) easing to 45 and a 1.3482 lower high capping the morning.
Support: 1.3460, 1.3454, 1.3432
Resistance: 1.3474, 1.3482, 1.3503
What it said to watch
BoE decision, MPC vote split and Monetary Policy Report at 12:00 GMT, then Bailey at 12:30, could materially shift this read; consensus is a 25bp hike to 4.00% on a 7-2 vote
An H1 close below the 1.3454 neckline confirms the double top and exposes Tuesday's 1.3432 high (tue high)
An H1 close above the 1.3503 week high negates the double top and breaks the 1.3454–1.3503 consolidation
Holding under EMA(20) and the 1.3482 lower high keeps the post-rejection pullback intact
US jobless claims at 13:30 GMT and Fed's Hammack at 13:50 add USD-side risk into the NY session
Higher lows since Monday; twin highs at 1.3503/1.3501 forming a potential double top.
Cable has climbed about 120 pips from Monday's 1.3379 week low. The dominant leg came in Wednesday's Asia session as the USD sold off on the Democratic midterm sweep, and it topped at the 1.3503 week high into the NY open. London open today printed a near-identical 1.3501 high and was rejected 30 pips, pushing price below the EMA(20) and through the higher-lows line with RSI(14) back below 50. That leaves a potential double top, with its neckline at 1.3454 (Wednesday's NY low and the 38.2% fib) just under today's 1.3461 session low.
Support: 1.3461, 1.3454, 1.3448
Resistance: 1.3477, 1.3503
What it said to watch
H1 close below the 1.3454 neckline confirms the double top and exposes the 1.3448 monday high (50% fib zone)
Recovery above the ema20 at 1.3477 and then the 1.3503 week high invalidates the double-top read
BoE decision at 12:00 GMT (hike to 4.00% fully priced) and Bailey at 12:30 could materially shift this read; the vote split vs the 7-2 forecast is the swing factor
Failure to hold today's 1.3461 session low keeps the London-open rejection driving the structure
US jobless claims at 13:30 GMT and Friday's NFP are the next USD-side risk to the week's range
Post-breakout higher lows; twin highs at 1.3500-1.3503 capping, price back on EMA20.
From the 1.3385 weekly open, the dominant move came late Tuesday into Wednesday's Asia session. The USD sold off on the Democratic sweep, and price broke the 1.3448 monday high and ran to a 1.3503 week high during NY hours. The London open today rejected a retest at 1.3501, forming a potential double top over the 1.3454 neckline (Wednesday's swing low). The drop held at a 1.3465 london low near the 38.2% fib. Price has since recovered to sit on EMA(20) around 1.3480, just under the 1.3482 rebound high, with RSI(14) back near 55 after failing to make a new high alongside price.
Support: 1.3465, 1.3454, 1.3448
Resistance: 1.3482, 1.3503
What it said to watch
BoE decision at 12:00 GMT and Bailey at 12:30: the vote split vs the 7-2 consensus could materially shift this read
H1 close below the 1.3454 neckline would confirm the double top and put the 1.3448 monday high retest zone in play
H1 close above the 1.3503 week high would invalidate the double top read
Failure to reclaim the 1.3482 rebound high keeps price pinned between EMA(20) and the 1.3465 london low
US NFP on Friday at 13:30 GMT is a second event risk for the week's range
09:01 UTC
Uptrend, momentum stalling at week high · RSI 51 · price 1.34687
Wednesday's Asia-session breakout from the Monday–Tuesday 1.3396–1.3432 range, driven by the post-midterm USD selloff, carried GBPUSD to a 1.3503 week high during NY hours. A second test at the London open today stalled at 1.3501 and met rejection, sending price back below the ema20 near 1.3478 to sit at the 38.2% retrace of the week's impulse. The higher-lows line from Wednesday is intact above the 1.3454 swing low, which also marks the neckline of the developing double top, with RSI(14) reset to about 50 and price still above EMA(50).
Support: 1.3454, 1.3432, 1.3385
Resistance: 1.3478, 1.3503
What it said to watch
BoE decision at 12:00 GMT and Bailey at 12:30 GMT could materially shift this read; a vote split narrower than the 7-2 forecast is the key variable
H1 close below the 1.3454 swing low confirms the double top and exposes the 1.3432 range top, near the 61.8% retrace
Close back above the 1.3503 week high invalidates the rejection read
Failure to hold the 1.3432 range top reopens the 1.3385 week open
US jobless claims at 13:30 UTC today and Friday's NFP are the USD-side risks to this structure
08:01 UTC
Uptrend, pressing week high · RSI 63 · price 1.34986
Post-breakout higher lows below 1.3503.
From the 1.3385 weekly open, Monday and Tuesday ranged between 1.3396 and a range top near 1.3432, with firm US data capping gains. The midterm-driven USD slump broke that range in Wednesday's Asia session and carried price to a week high of 1.3503 into the NY open, while the NY pullback held the 50% fib at 1.3454. Asia today has built a run of higher lows back toward the high, holding above EMA(20) near 1.3481 with RSI(14) at 63 and ranges compressing.
Support: 1.3481, 1.3454, 1.3432
Resistance: 1.3503
What it said to watch
BoE decision at 12:00 GMT: a vote firmer than 7-2 or hawkish guidance tests the 1.3503 week high, while a dovish split exposes the 50% fib at 1.3454
An H1 close above the 1.3503 week high extends the breakout, and repeated failure there shapes a double top
Loss of the higher-low trendline and EMA(20) near 1.3481 shifts focus back to 1.3454
A close below the 1.3432 range top would mean the Wednesday breakout has failed
US jobless claims at 13:30 GMT and Friday's NFP could reverse the USD-led leg
07:01 UTC
Uptrend, consolidating just below week high · RSI 61 · price 1.34895
Range breakout, higher low at 1.3454, retesting 1.3503 high.
GBPUSD spent Monday and Tuesday boxed between 1.3396 and the 1.3432 range top. It broke higher in Wednesday's Asia session as the post-midterm USD selloff hit, then extended through London to a 1.3503 week high early in NY. The NY pullback stalled at the 1.3454 swing low, almost exactly the 50% retracement of the Asia–London leg, and today's Asian range has rebuilt to 1.3497 with price holding above the ema20 near 1.3482 and RSI(14) back around 60.
Support: 1.3482, 1.3454, 1.3432
Resistance: 1.3503
What it said to watch
BoE decision, vote split and MPR at 12:00 GMT, then Bailey at 12:30, could materially shift this read
H1 close above the 1.3503 week high extends the breakout; a lower high here leaves a double-test of the top
Failure to hold the 1.3454 swing low breaks the higher-low sequence and exposes the 1.3432 range top
Hourly closes back below the ema20 at 1.3482 would signal the Asia rebuild is fading
US jobless claims at 13:30 UTC and Friday NFP feed the USD side of the move
06:01 UTC
Uptrend, pressing week high · RSI 61 · price 1.34916
Range break Wednesday, higher lows since, capped below 1.3503.
The week opened at 1.3385. A London push on Monday stalled at 1.3448, and price held a 1.340–1.343 range through Tuesday. The range broke in Wednesday's Asia session as the USD sold off on the Democratic midterm sweep, and the move ran to a 1.3503 week high at the NY open. The NY fade found demand at the 1.3454 swing low, right at the 38.2% fib and just above Monday's high. Price has since printed a higher low and rebuilt to a 1.3497 Asia high, holding above EMA(20) near 1.3482 with RSI(14) near 61, short of overbought.
Support: 1.3482, 1.3454, 1.3410
Resistance: 1.3497, 1.3503
What it said to watch
BoE decision, vote and MPR at 12:00 UTC today: a dovish hike could unwind the breakout, while a hawkish split tests the 1.3503 week high
H1 close above 1.3503 clears the week high and the Asia high double cap
Failure to hold the 1.3454 swing low (38.2% fib) breaks the higher-low sequence and exposes the 1.3410 break base
US jobless claims at 13:30 UTC today and Friday NFP are the USD-side catalysts for this read
05:01 UTC
Uptrend, pressing week high · RSI 61 · price 1.34946
Range break, higher lows since Monday.
Broad USD selling after the US midterm sweep lifted the pair out of its Monday–Tuesday 1.3396–1.3448 old range late Tuesday into Wednesday's Asia session. The week impulse ran to a 1.3503 week high near NY open. The NY-session pullback found demand at the 1.3454 wed low, close to the 38.2% fib and on the higher lows line. Asia today recovered back above ema20 (~1.3475) to sit just under the week high, with RSI(14) back near 61 and well short of Wednesday's peak readings.
Support: 1.3475, 1.3454, 1.3410
Resistance: 1.3503
What it said to watch
H1 close above the 1.3503 week high extends the higher-high sequence; rejection there leaves a potential double top in play
Failure to hold the 1.3454 wed low breaks the higher lows line and the 38.2% fib, opening the 1.3410 old range
Sustained trade back below ema20 (~1.3475) would mark the first loss of Asia-session momentum
BoE decision 12:00 UTC and Bailey at 12:30 UTC could materially shift this read; a dovish-hike outcome is the main downside risk to the rally
US jobless claims 13:30 UTC today and Friday NFP 13:30 UTC are the next USD-side catalysts
Range break Wednesday, higher lows held on pullback.
GBPUSD broke out of the Monday–Tuesday 1.3396–1.3432 range top during Wednesday's Asia session as the Democratic midterm sweep hit the USD, extending to a week high of 1.3503 into the NY open. The NY pullback found demand at the wed low of 1.3454, close to the 50% fib of the move, and price has since rebuilt above the ema20 to the 1.3492 asia high, with RSI(14) back in the mid-50s after cooling from overbought. Structure remains a sequence of higher lows beneath the week high.
Support: 1.3476, 1.34544, 1.3432
Resistance: 1.34918, 1.3503
What it said to watch
BoE decision, vote split and MPR at 12:00 UTC, plus Bailey at 12:30 UTC, could materially shift this read; a softer split than 7-2 is the downside scenario in the digest
H1 close above the 1.3503 week high extends the higher-high sequence
H1 close below the 1.3454 wed low breaks the higher-lows trendline and exposes the 1.3432 range top
US jobless claims and Hammack at 13:30–13:50 UTC as the USD-side driver
Monday and Tuesday ranged 1.3396–1.3448. The range broke late Tuesday into Wednesday's Asia session as the USD sold off on the Democratic midterm sweep, extending to a week high at 1.3503 by the London-NY transition. The NY pullback stalled at the 1.3454 swing low, the 50% retracement of the breakout leg and just above the old 1.3448 range top. Price has since reclaimed EMA(20) near 1.3478 during the Asian session, and RSI(14) has reset to the high 50s.
Support: 1.3478, 1.3454, 1.3448
Resistance: 1.3503
What it said to watch
Acceptance above the 1.3503 week high extends the breakout leg; another stall there marks it as a double-tested cap
An H1 close back below the 1.3454 swing low and the 1.3448 range top would undercut the breakout read
Holding the ema20 near 1.3478 keeps the pullback cycle intact
BoE decision Thu 12:00 UTC (hike to 4.00% priced, vote f/c 7-2) and Bailey at 12:30 UTC could materially shift this read
US jobless claims Thu 13:30 UTC ahead of Friday NFP add USD-side event risk
Breakout from Mon–Tue range, higher low held at 38.2% fib.
GBPUSD broke out of the Monday–Tuesday 1.3396–1.3448 range in Wednesday's Asia session as USD sold off on the Democratic midterm sweep. The move extended through London to a 1.3503 week high around the NY open, with the soft UK PMI revisions shrugged off. The NY-session pullback stalled at the 1.3454 NY low, the 38.2% fib of the week advance and just above the Monday high, and price has since recovered above EMA(20) with RSI(14) back in the mid-50s.
Support: 1.3475, 1.3454, 1.3448
Resistance: 1.3503
What it said to watch
H1 close above the 1.3503 week high, at the 1.3500 psych level, extends the breakout
Failure to hold the 1.3454 NY low exposes the Monday high at 1.3448 and the 50% fib of the week advance near 1.3441
Sustained H1 closes back below the ema20 near 1.3475 would signal a deeper consolidation below the week high
BoE decision at 12:00 UTC (vote f/c 7-2 hike) and Bailey at 12:30 UTC could materially shift this read
US jobless claims Thu 13:30 UTC and NFP Fri add USD-side event risk to the breakout
Breakout from Mon–Tue range, higher lows, shallow consolidation above EMA(20).
GBPUSD held a 1.3400–1.3448 band through Monday and Tuesday. The US midterm result late Tuesday set off broad USD selling, and price broke out through Asia and London to a week high of 1.3503 at Wednesday's NY open. The NY-session pullback stopped at a 1.3454 swing low, near the 50% retrace of the move and EMA(50). Price has since consolidated above EMA(20) around 1.3468 with RSI(14) near 60, and Wednesday's softer UK PMIs left little mark.
Support: 1.3468, 1.3454, 1.3448
Resistance: 1.3491, 1.3503
What it said to watch
H1 close above the 1.3503 week high, and the 1.3491 lower high below it, reopens the trend leg
Failure to hold the 1.3454 swing low and the higher-low line breaks the post-election sequence
Loss of the 1.3448 mon high (former range top) returns price to Monday–Tuesday's range
BoE decision Thu 12:00 UTC and Bailey at 12:30 UTC could materially shift this read; the hike is largely priced, so guidance carries the risk
US jobless claims Thu and Friday's NFP: the rally has been mostly USD-driven
00:01 UTC
Uptrend, momentum cooling below the week high · RSI 48 · price 1.34705
Range break from 1.3400–1.3432 into higher highs; pullback held near 50% of Wednesday's leg.
After opening the week at 1.3385, the pair held a 1.3400–1.3432 range through Monday and Tuesday. It broke out during Wednesday's Asia session as the Democratic midterm sweep drove broad USD selling, reaching the 1.3503 week high at the NY open. The fade from there found a swing low at 1.3454, close to the 50% fib of the breakout leg, and price has since flattened just above ema20 at 1.3467, with RSI(14) cooled to the high 40s and a rebound high at 1.3477 capping the late-NY bounce.
Support: 1.3467, 1.3454, 1.3432
Resistance: 1.3477, 1.3503
What it said to watch
H1 close above the 1.3477 rebound high puts the 1.3503 week high back in focus; a close above 1.3503 extends the higher-high sequence
Failure to hold the 1.3454 swing low and the post-breakout higher lows exposes the 1.3432 breakout level
BoE decision Thu 12:00 UTC and Bailey at 12:30 UTC; a priced 7-2 hike leaves room for a sell-the-fact reaction that could materially shift this read
US jobless claims Thu 13:30 UTC and Friday's NFP could shift USD tone, which has driven most of this week's move