21:02 UTC
Recovery off June low, into 1.3400 · RSI 59 · price 1.33932
Higher lows since June, 1.3400 capping.
Cable has carved a double bottom near 1.3140 (mid-to-late June) and rallied roughly eight sessions into the 1.3400 handle / 200-day EMA zone, a squeeze on stale shorts against a fading USD after the soft NFP miss. Price is back above both EMA20 and EMA50 with RSI mid-range, so momentum is constructive but stalling right at the 1.3400 cap. The move retraces about half of the April-June 1.3658-to-1.3140 decline.
Support: 1.3300, 1.32619, 1.31399
Resistance: 1.3400, 1.34844, 1.36576
What it said to watch
- Daily close above 1.3400 opens 1.3445 then the 1.3485 prior high
- Break below 1.3300 negates the recovery and reopens the June low
- FOMC minutes Wednesday is the dominant near-term USD catalyst