Cable broke down hard on Friday's blowout US NFP (172K vs 85K), slicing through 1.3390 support to print 1.333 and reversing the week's earlier grind. Price opened the new week gapping lower to 1.3317, holding below both EMAs with RSI(14) pinned near oversold. 1.3336 marks the weekend gap zone overhead.
Support: 1.3317, 1.3300
Resistance: 1.3336, 1.3390
What it said to watch
Close back above 1.3336 fills the weekend gap and eases the downside read
Break under 1.3300 opens 1.2945/1.3010 per UOB
US CPI Tue 12:30 UTC could materially shift this read
22:01 UTC
Downtrend, accelerating after NFP · RSI 32 · price 1.33198
Lower highs, gapped below week's range.
Cable spent Monday-Thursday rotating 1.3420-1.3480 before Friday's blowout US NFP (172K vs 85K) sliced it from ~1.3483 down through 1.3340, with momentum staying bearish into the weekend. Price then gapped lower at the Sunday open and is pressing the 1.3317 session low, well below both EMAs. The 1.3470 ceiling that capped the week is now far overhead.
Support: 1.3300, 1.3317
Resistance: 1.3336, 1.3390, 1.3470
What it said to watch
H1 close back above 1.3336 would fill the weekend gap and ease the breakdown
Failure to hold the 1.3300 round number opens the 1.3010 area below
US CPI on Jun 10 is the next major driver for this pair
Cable broke down hard from the 1.3483 high after Friday's blowout US NFP (172K vs 85K) revived Fed-hike odds and bid the dollar, shedding over 150 pips into the close. Price is pinned below EMA20 and EMA50 with RSI(14) near 30 and a string of lower highs capping every bounce; the 1.3357 lower high marks the first resistance shelf. Demand is steadying around the 1.3330 session low but the structure is firmly bearish.
Support: 1.3330, 1.3300, 1.33405
Resistance: 1.33567, 1.34043, 1.3447
What it said to watch
Loss of the 1.3330 session low opens the 1.3300 psych level
Reclaim of the 1.3357 lower high needed to ease bearish momentum
A close back above 1.3447 would neutralise the post-NFP break
US CPI Jun 10 is the next dominant driver for this read