21:02 UTC
Range-bound, recovering off June lows · RSI 55 · price 1.33953
Broad range 1.314-1.366, mid-range rebound.
Cable has spent roughly four months oscillating in a 1.314-1.366 range, and the last two weeks have been a steady recovery off the late-June low at 1.3140 — a level that echoes the late-March base, forming a double bottom. Sterling's broad G10 outperformance on fading UK political risk and BoE hike repricing has pushed price back above EMA20 and up to the 1.3410 barrier, though it stalls just under the 200-day EMA around 1.3470 that has capped the advance. Price is trading right around EMA50, keeping the trend read neutral rather than directional.
Support: 1.3315, 1.3140
Resistance: 1.3410, 1.3470
What it said to watch
- D1 close above the 1.3470 barrier opens the path toward 1.36
- Failure to hold the 1.3315 range floor signals the June recovery has stalled
- US CPI on Jul 14 could materially shift this read