Every read JAFX AI made on the GBP/USD weekly chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
19:02 UTC
Uptrend, momentum flat · RSI 53 · price 1.34882
Consolidation in upper half of multi-quarter uptrend.
Broad uptrend from the February 2025 low at 1.2332 to the January 2026 high near 1.3870, but price has spent recent quarters consolidating within a roughly 1.3100–1.3500 band. EMA(50) on W1 is rising and price holds above it — the macro structure remains an uptrend even as weekly momentum flattens. The soft US payrolls shock (-23K) has lifted cable back toward the 1.3500 range cap.
Support: 1.3100
Resistance: 1.3500, 1.3870
What it said to watch
- Weekly close above 1.3500 range cap opens the path toward the 1.3870 prior high
- Failure to hold 1.3100 swing low breaks the multi-quarter uptrend structure
- US CPI on Aug 12 could materially shift this read
19:02 UTC
Uptrend stalled into range · RSI 53 · price 1.34882
Multi-quarter range, upper-half.
Cable ran a multi-quarter uptrend from the 1.2332 low in Q1 2025 to the 1.3869 high in Q1 2026, and has since coiled into a broad range with recent trade boxed between 1.3410 and 1.3555. EMA(50) is rising and price holds just above it, so the macro up-structure stays intact while momentum flattens — RSI sits mid-range at 53. The dollar leg dominates here: the -23K NFP shock has been unwinding the hawkish-Fed narrative, cushioning sterling near the range mid.
Support: 1.3410, 1.3300, 1.3010
Resistance: 1.3500, 1.3555, 1.3770
What it said to watch
- US CPI on Aug 12 is the decisive cross-driver and could break the range read
- Weekly close above 1.3500 opens the path to 1.3555 and the 1.3770 swing high
- Failure to hold 1.3410 pivot exposes 1.3300 and the wider range low near 1.3010