09:18 UTC
Uptrend, multi-week consolidation · RSI 56 · price 1.36353
Higher base since mid-March, capped at 1.3660.
GBPUSD is in a broad uptrend off the March low at 1.3185, with price holding above EMA20 and EMA50 through April and into May. The last three weeks have consolidated between the swing pivot at 1.3530 and the range top near 1.3660, with multiple daily wicks rejecting that ceiling. RSI at 56 reflects neutral-to-firm momentum without overextension despite the macro noise from Iran and firm US inflation expectations.
Support: 1.3530, 1.3185
Resistance: 1.3660, 1.3870
What it said to watch
- Daily close above 1.3660 opens the path toward the February high at 1.3870
- Loss of the 1.3530 swing pivot would mark a lower-low and break the consolidation
- US April CPI (firm forecast per Wells Fargo) could materially shift this read