Double top at 1.3503 resolved into lower highs; price pressing the NFP low.
Rejections at 1.3503 into Wednesday's NY open and at 1.3501 at Thursday's London open formed a double top. The post-BoE fade then became a steady run of lower highs from the 1.3463 friday high through the Asia and London sessions, with the descending trendline capping every bounce. The blowout NFP (165K vs 65K) extended the slide in the first hour of NY to the 1.3342 nfp low, and the 1.3377 lower high has capped price since; cable sits below both EMAs with RSI(14) near 27, in oversold territory.
Support: 1.3342, 1.3300
Resistance: 1.3377, 1.3400, 1.3463
What it said to watch
An H1 close above the 1.3377 lower high and the descending trendline would break Friday's lower-high sequence
A reclaim of the 1.3400 round number, which sits near the 38.2% level of the 1.3503-1.3342 fib, would neutralise the post-NFP breakdown and bring the 1.3463 friday high back into focus
Failure to hold the 1.3342 nfp low exposes the 1.3300 psych level
Bailey on Mon at 17:25 UTC and US CPI on Tue at 13:30 UTC could materially shift this read
19:02 UTC
Downtrend, oversold after NFP leg · RSI 28 · price 1.33558
Double top at 1.3500, lower highs since Thursday.
Wednesday's Asia-session breakout stalled in a double top at 1.3503/1.3501. Thursday's BoE hike bounce failed at 1.3486, and Friday printed steady lower highs. London took out 1.3400, then the 165K NFP beat extended the drop to a 1.3342 week low. Post-NFP rebounds have capped at the 1.3377 bounce high, beneath the falling trendline and EMA(20) near 1.3390, while RSI(14) sits near 28 in oversold territory. The 38.2% fib of the 1.3503–1.3342 move at 1.3404 overlaps the broken 1.3400 handle.
Support: 1.3350, 1.3342, 1.3300
Resistance: 1.3377, 1.3390, 1.3404
What it said to watch
H1 close above the 1.3377 bounce high and the falling trendline would break Friday's lower-high sequence
Recovery of 1.3400 and the 38.2% fib at 1.3404 would turn the NFP break into a false break
Failure to hold the 1.3350 retest low, then the 1.3342 week low, extends lower lows toward the 1.3300 round number
Bailey speech Mon 17:25 UTC and US CPI Tue 13:30 UTC could materially shift this read
18:02 UTC
Downtrend, oversold after NFP leg · RSI 26 · price 1.33528
Double top at 1.3500 completed, lower highs and lower lows through Friday.
The week's rally peaked at 1.3503 in Wednesday's London-NY transition, and a second test at 1.3501 failed at Thursday's London open. Friday's Asia session slipped through the 1.3443 neckline to complete a double top, and London open then cleared the 1.3400 psych level. The blowout US payrolls beat extended the slide in the first hour of NY to the 1.3342 NFP low, about 160 pips off the week high. Since then the 1.3377 bounce high has capped price under a falling line of Friday lower highs. Price sits below EMA(20) and EMA(50) with RSI(14) near 26, deep in oversold territory.
Support: 1.33421, 1.3300
Resistance: 1.33774, 1.3400, 1.34432
What it said to watch
H1 close above the 1.3377 bounce high and the Friday lower highs line would mark the post-NFP leg as stalling
Reclaiming 1.3400 psych (the old Tuesday low) puts the 1.3443 neckline back in play as a retest
Failure to hold the 1.3342 NFP low exposes the 1.3300 round number
Fed's Daly at 18:00 UTC and BoE's Bailey Mon 17:25 UTC could materially shift this read; US CPI Tue 13:30 UTC is the next major USD risk
Double top at 1.3500 broken; lower highs since Thursday.
The double top at 1.3500 (Wednesday and Thursday highs) gave way after the hawkish 9-0 BoE vote failed to lift sterling. London selling took price through the 1.3448 neckline on Friday, and the 165K NFP beat extended the slide to the 1.3342 nfp low, with the lower highs trendline capping every bounce since Thursday. Price sits below EMA(20), which has converged with the 1.3400 psych level, the old Monday–Tuesday range floor and the 38.2% of the decline fib, while RSI(14) holds oversold near 28.
Support: 1.33421, 1.3300
Resistance: 1.3400, 1.3448, 1.3500
What it said to watch
H1 close back above 1.3400 (ema20/psych and 38.2% decline fib) would break the lower highs sequence and return price to the Mon–Tue range
Failure to hold the 1.3342 nfp low exposes the 1.3300 round number
Reclaim of the 1.3448 neckline would negate the double top read
Fed's Bowman (17:15 UTC) and Daly (18:00 UTC) today could extend the post-NFP USD move; Bailey speaks Mon 17:25 UTC
Double top at 1.3500, neckline broken, lower highs since Friday open.
A double top formed at 1.3500–1.3503, with tests on Wednesday and at Thursday's London open. It gave way once the 1.3454 neckline broke in Friday's Asia session. London then extended below 1.3400 on Pill's dovish remarks, and the 165K NFP beat drove the slide to a 1.3342 week low during NY hours. The post-NFP bounce stalled at 1.3377, just under the 1.3380 pre-NFP low. EMA20 near 1.3403 lines up with the 38.2% retracement of the 1.3503–1.3342 drop, and RSI(14) near 24 is oversold, with lower highs intact since Friday's open.
Support: 1.3342, 1.3300
Resistance: 1.3380, 1.3403, 1.3454
What it said to watch
H1 close back above 1.3403 (EMA20 / 38.2% retracement) would break the lower-highs sequence
Failure to hold the 1.3342 week low exposes the 1.3300 round number
Recovery through the 1.3454 neckline would negate the double top read
Fed's Bowman (17:15 UTC) and Daly (18:00 UTC) could extend or unwind the NFP-driven move
Double top at 1.3500 followed by lower highs and lower lows since Thursday.
GBP/USD put in a double top at the 1.3500 week high on Wednesday and Thursday. The BoE hike failed to extend it, and price has since printed a clean sequence of lower highs. Friday's London session broke the Monday-Tuesday range low at 1.3396 after Pill's dovish remarks, and the 165K NFP beat extended the drop to an nfp low at 1.3342. That leaves price well below EMA(20) with RSI(14) deep in oversold territory. The London low at 1.3381 now sits overhead as the first cap, with the 38.2% retracement of the 1.3503–1.3342 decline near 1.3404 just above the old range low.
Support: 1.3342, 1.3300
Resistance: 1.3381, 1.3396, 1.3500
What it said to watch
H1 close back above the 1.3381 london low would ease the post-NFP extension; reclaiming the 1.3396 range low and the 38.2% retracement near 1.3404 would challenge the lower-highs trendline
Failure to hold the 1.3342 nfp low opens the 1.3300 psych level
Bullish RSI divergence on a retest of 1.3342 would mark fading downside momentum
Michigan sentiment and inflation expectations at 15:00 UTC, then Fed's Bowman and Daly, could materially shift this read
Only an H1 close above the 1.3500 double top would negate the double-top structure
Double top at 1.3500, lower highs and lower lows since Thursday.
Monday and Tuesday held a 1.3400–1.3430 range before a late-Tuesday breakout ran to 1.3503 in Wednesday's NY session. Thursday's London open retest of 1.3500 failed, forming a double top, and GBP faded on a 'sell-the-fact' BoE hike to 4% despite the hawkish 9-0 vote. Friday's Asia and London sessions carved a sequence of lower highs through the 1.3400 range floor and the 1.3381 london low, and the NFP-hour bar extended the Thu-Fri decline to the 1.3357 nfp low as USD caught a safe-haven bid. RSI(14) near 14 and price well below EMA(20) mark the leg as stretched, with 1.3350 round number the next reference below.
Support: 1.3357, 1.3350
Resistance: 1.3381, 1.3400, 1.3500
What it said to watch
H1 close back above the 1.3400 range floor would mark the breakdown as a false break
Failure to hold the 1.3357 nfp low and 1.3350 round number extends the lower-low sequence
A break of the Friday lower-highs trendline near 1.3395 would be the first sign the decline is losing pace
1.3381 london low now overhead — area to watch for rejection on any rebound
UoM sentiment and inflation expectations at 15:00 GMT, and Fed's Bowman at 17:15 GMT, could shift the post-NFP read
Double top at 1.3500 broken, lower highs since Thursday.
The week's rally has fully round-tripped. The 1.3500 area capped price on Wednesday and again on Thursday, forming a double top, and Thursday's hawkish BoE hike spiked only to 1.3482 before fading. A firmer haven-driven USD then carried price through the 1.3450 neckline and Monday's 1.3396 prior low during Friday's London session, printing a week low at 1.3381, with price below both EMAs and RSI(14) near 27.
Support: 1.3381, 1.3350
Resistance: 1.3396, 1.3450, 1.3502
What it said to watch
US NFP at 13:30 GMT (f/c 65K) could materially shift this read; a soft print is the scenario most likely to challenge the lower-high trendline
H1 close back above the 1.3396 prior low would mark the London break as a false break
Failure to hold the 1.3381 week low exposes the 1.3350 round number
Reclaim of the 1.3450 neckline would neutralise the double top read; the 38.2% retrace of the drop sits close to it
12:01 UTC
Downtrend, oversold after a sharp leg lower · RSI 28 · price 1.33959
Double top near 1.3500 confirmed; lower highs and lower lows since Thursday NY.
Cable formed a double top at the 1.3500 week high, on Wednesday and again at Thursday's London open. The post-BoE fade from 1.3486 during NY hours broke the 1.3454 neckline in the Asia session. A firmer USD on safe-haven demand then extended the slide through Monday's low into a 1.3381 week low during London hours, with RSI(14) pushed into oversold territory. Price is now testing the underside of Monday's low near 1.3396, with EMA(20) at 1.3426 overhead and well clear of the price.
Support: 1.3381, 1.3350
Resistance: 1.3426, 1.3454, 1.3503
What it said to watch
US NFP at 13:30 GMT (f/c 65K) could materially shift this read; a soft print risks a sharp retracement of the decline
An H1 close back above the ema20 near 1.3426 would mark the first break of the lower-high sequence
Failure to hold the 1.3381 week low exposes the 1.3350 round number
A recovery into the 1.3454 neckline would test whether the double top breakdown holds as resistance
Double top at 1.3500, neckline broken, lower highs since Thursday.
Cable has fully unwound Wednesday's post-midterm rally after a double top at 1.3500: Wednesday NY reached 1.3503 and Thursday's London open reached 1.3501, and the BoE spike stalled below 1.3486. The 1.3443 neckline gave way in Friday's Asian session. London open then extended the slide through Tuesday's 1.3396 prior low to a week low at 1.3381 as the haven USD bid and soft Lloyds house prices weighed. Lower highs have held since Thursday's NY session, price sits below both EMA(20) and EMA(50), and RSI(14) is oversold near 26.
Support: 1.3381, 1.3350
Resistance: 1.3396, 1.3443, 1.3500
What it said to watch
US NFP at 13:30 GMT (f/c 65K) could materially shift this read; a strong print and acceptance below the 1.3381 week low exposes the 1.3350 round number
H1 closes back above the 1.3396 prior low, then the 1.3443 neckline (near the 50% fib of the drop), would neutralise the double top read
A break above the lower highs line from Thursday's NY session would signal the sequence of lower highs is stalling
A new low with RSI(14) holding above its current oversold reading would form a bullish divergence
10:02 UTC
Downtrend, extended and oversold · RSI 19 · price 1.33869
Double top at 1.3500, neckline broken, lower highs since Thursday.
Wednesday's NY-session rally and Thursday's early London push both stalled at 1.3500, forming a double top. The post-BoE fade, driven by a firmer USD, broke the 1.3445 neckline in Friday's Asia session. London open then extended the slide through the 1.3396 tue low to a fresh week low at 1.3384, with 11 of the last 13 bars closing lower and RSI(14) near 19, oversold and stretched well below EMA(20).
Support: 1.33842, 1.3350
Resistance: 1.33959, 1.3445, 1.3503
What it said to watch
US NFP at 13:30 GMT (f/c 65K, prev 29K) could materially shift this read
An hourly close back above the 1.3396 tue low would mark the London break as a false break
Failure to hold the 1.3384 week low extends the lower-low sequence toward 1.3350 psych
The 1.3445 neckline, which coincides with the 50% fib of the double-top drop, is the area to watch for rejection or acceptance on any recovery
The lower highs trendline from Thursday sits near 1.3430; holding below it keeps the sequence intact
Double top at 1.3500, neckline broken, lower highs since Thursday.
The midterm-driven rally that began late Tuesday peaked at 1.3503 on Wednesday. It was capped again at 1.3501 into Thursday's London open, forming a double top, and the post-BoE spike to 1.3486 faded as USD firmed, putting a run of lower highs in place. The 1.3455 neckline gave way overnight, and this morning's London open extended the slide to the 1.3395 week low, fully retracing the rally back into Monday–Tuesday's prior range, with price below both EMAs and RSI(14) near 23.
Support: 1.3395
Resistance: 1.3430, 1.3455, 1.3503
What it said to watch
US NFP at 13:30 GMT (f/c 65K) could materially shift this read
H1 close below the 1.3395 week low extends the lower-low sequence beyond Tuesday's base
Recovery back above 1.3430, the prior range top, would mark the break as a false break
1.3455 neckline, near the 50% retracement of the 1.3503 decline, is the level that would reopen the double top area
07:02 UTC
Downtrend, oversold after reversal from 1.3500 · RSI 24 · price 1.34152
Double top at 1.3500, neckline broken, lower highs since Thursday.
Cable has fully round-tripped the week rally. The 1.3500 double top (Wednesday NY, Thursday London) held after the BoE hike failed to extend. A revived USD then printed lower highs at 1.3486 and 1.3463, and the move took price through the 1.3444 neckline during the Asia session. Price now sits back at the Monday open near 1.3414, below EMA(20) (~1.3445) and EMA(50), and through the 78.6% retracement of the week rally (1.3419). RSI(14) is oversold near 24.
Support: 1.3414, 1.3396
Resistance: 1.3444, 1.3486, 1.3500
What it said to watch
US NFP at 13:30 GMT (f/c 65K) could materially shift this read
H1 close below the 1.3396 week low erases the entire week rally
Recovery above the 1.3444 neckline and EMA(20) would undercut the double top read
Break of the lower highs trendline would mark the first interruption of Friday's sequence
Fed's Williams at 09:30 UTC sets the pre-NFP USD tone
Lower highs and lower lows since Thursday's 1.3501 retest; neckline broken.
Wednesday's post-midterm USD sell-off drove the week's impulse from 1.3408 to 1.3503. The Thursday London-session retest of 1.3500 met rejection, and the BoE's unanimous-hike spike stalled at 1.3486, leaving a double top as the USD rebound took hold. Friday's Asia session broke the 1.3445 neckline and the Fri 00:00 lower high at 1.3463. Price has now given back more than 78.6% of the Wednesday rally fib, sits below EMA(20) and EMA(50), and has RSI(14) near 24 with the weekly open at 1.3404 next below.
Support: 1.3404, 1.3396
Resistance: 1.3445, 1.3463, 1.3503
What it said to watch
US NFP at 13:30 UTC (f/c 65K vs 29K prior) could materially shift this read
H1 close back above the 1.3445 neckline negates the double-top breakdown
Lower highs trendline from 1.3501 now near 1.3474; rebounds stalling under the 1.3463 lower high keep the sequence intact
Failure to hold the weekly open at 1.3404 and the week low at 1.3396 erases the week's gain and extends the lower-low sequence
Double top at 1.3500, lower highs and lower lows since Thursday.
Cable formed a double top at 1.3500: Wednesday's NY session set the 1.3503 week high, and Thursday failed again at 1.3501 into the London open. The unanimous BoE hike could not hold as firm US claims lifted the USD. Lower highs since Thursday's NY session have pushed price below EMA(20) and EMA(50) and through the 1.3443 thu low, with the Asia session extending to a 1.3425 asia low near the 78.6% retracement of the election rally from the 1.3408 rally base. RSI(14) near 34 is sliding with no divergence yet.
Support: 1.3425, 1.3408, 1.3393
Resistance: 1.3443, 1.3463, 1.3500
What it said to watch
US NFP at 13:30 UTC (f/c 65K) could materially shift this read; a strong print puts the 1.3425 asia low and 1.3408 rally base in focus, a soft one the 1.3500 double top
H1 close back above the 1.3443 thu low and the lower-highs trendline weakens the double top break
Recovery through the 1.3463 lower high ends the lower-high sequence since Thursday
Failure to hold the 1.3408 rally base fully retraces the election rally and exposes the 1.3393 week low
04:02 UTC
Downtrend from 1.3500, lower highs since Thursday · RSI 37 · price 1.34346
Double top near 1.3500; Thursday low broken in Asia.
Wednesday's election-driven rally from the 1.3410 range base ran out at 1.3503 and was rejected again at 1.3501 at Thursday's London open, forming a double top. Cable has printed lower highs since. GBP lost its gains after the unanimous BoE hike as firm US claims lifted the USD, and the late-NY slide carried into today's Asia session, which broke Thursday's 1.3448 low. Price now sits below EMA(20) and EMA(50) with RSI(14) near 37, and the 1.3429 Asia low sits on the 78.6% retracement of the election rally.
Support: 1.3429, 1.3410, 1.3392
Resistance: 1.3448, 1.3463, 1.3500
What it said to watch
US NFP at 13:30 UTC (f/c 65K) could materially shift this read
H1 close back above 1.3448 (Thursday's low) would mark the break as a false break
Failure to hold the 1.3429 Asia low exposes the 1.3410 range base, then the 1.3392 week low
A recovery through the 1.3463 Asia high and the lower-highs line reopens the 1.3500 double top
Double top at 1.3500 with lower highs, testing neckline from below.
Cable's post-midterm leg from Tuesday's 1.3408 low peaked at 1.3503 in Wednesday's NY session. Thursday's London-open retest at 1.3501 failed, leaving a double top as firm US claims lifted USD and erased the unanimous BoE hike gains. Lower highs at 1.3486 and 1.3463 have since pushed price below EMA(20) and EMA(50), with RSI(14) near 38 and price slipping under the 1.3448 neckline and the 61.8% fib of the week rally. The wed low at 1.3426 is the next shelf above the tue low at 1.3408.
Support: 1.3426, 1.3408, 1.3387
Resistance: 1.3448, 1.3486, 1.3503
What it said to watch
US NFP at 13:30 UTC (f/c 65K, prior 29K) could materially shift this read; a soft print puts the 1.3503 double top back in play
H1 close back above the 1.3448 neckline and the 1.3486 lower high negates the double top read
Failure to hold the wed low at 1.3426 exposes the tue low at 1.3408 and the week open at 1.3387
Fed's Williams at 09:30 UTC during the London session is an earlier USD catalyst
Lower highs under 1.3503 double top, testing the 50–61.8% fib zone.
Cable gapped up from the 1.3410 gap base after the Democratic midterm sweep and peaked at 1.3503 Wednesday. A London retest on Thursday stalled at 1.3501, leaving a double top at the week high. The BoE's unanimous hike spiked price only to a lower high near 1.3486 in NY before firm US data pulled it back below EMA(20) and EMA(50). Price now sits between the 50% and fib 61.8 retracement of the 1.3396–1.3503 leg, pressing the session low near 1.3443 with RSI(14) in the high 30s.
Support: 1.3443, 1.3437, 1.3410
Resistance: 1.3463, 1.3486, 1.3503
What it said to watch
US NFP at 13:30 UTC today could materially shift this read; a strong print adds pressure on the session low and fib 61.8 zone
H1 close below 1.3437 (fib 61.8) exposes the 1.3410 gap base and largely retraces the election leg
Recovery above the 1.3463 Asian high and back over EMA(20) would ease the pullback read
A close above the 1.3486 lower high breaks the descending sequence and puts the 1.3503 double top back in play
Double top at 1.3500, lower high at 1.3486, pressing the 1.3448 neckline.
Wednesday's post-midterm USD selloff drove cable from the 1.3408 rally origin to a 1.3503 week high. Thursday's London-open retest of 1.3501 failed, forming a double top, and the BoE-hike spike stalled at a 1.3486 lower high before NY hours sold it back to the thursday low at 1.3443, the 61.8% retracement of the rally. Price now sits below the ema20 near 1.3460 with RSI(14) in the mid-40s, just above the 1.3448 neckline after Thursday's marginal probe beneath it.
Support: 1.3443, 1.3432, 1.3408
Resistance: 1.3460, 1.3486, 1.3503
What it said to watch
Hourly close below the thursday low at 1.3443 confirms the double top and exposes the tuesday high at 1.3432
Loss of the tuesday high at 1.3432 brings the 1.3408 rally origin into view, a full retrace of Wednesday's move
Reclaim of the ema20 and a move through the 1.3486 lower high and lower-highs trendline weakens the double top read; 1.3503 week high is the cap
US NFP Fri 13:30 UTC (f/c 65K), with Fed's Williams at 09:30 UTC, could materially shift this read
Double top at 1.3500, price holding 61.8% retracement of Wednesday impulse.
The week's dominant move came from late Tuesday into Wednesday's Asia session, when post-midterm USD weakness lifted cable from 1.3408 to the 1.3503 week high. That high capped Wednesday's NY session and the Thursday London open, forming a double top. The fully priced BoE hike only produced a post-BoE high near 1.3485 that faded as USD firmed, and price is now below EMA(20) near 1.3464 after the Thu low at 1.3443 held the 61.8% retracement.
Support: 1.3443, 1.3432
Resistance: 1.3464, 1.3485, 1.3503
What it said to watch
H1 close below the 1.3443 Thu low confirms the double top and exposes the 1.3432 tue high breakout area
Close back above the 1.3485 post-boe hi breaks the lower highs line and reopens the 1.3503 week high
US NFP Fri 13:30 UTC (f/c 65K) could materially shift this read
Failure to reclaim EMA(20) near 1.3464 keeps the fading-rally read intact