Every read JAFX AI made on the GBP/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:01 UTC
Range-bound, drifting to lower edge · RSI 41 · price 1.33433
Multi-month range 1.3330–1.3450.
Cable has spent roughly three months ranging between 1.3330 and 1.3450, with repeated rejections at the 200-day EMA near 1.3400 capping every push higher. Price is now pressing the lower edge of that band after sliding from the early-April high, sitting below both EMA20 and EMA50 with RSI mid-range. The drift reflects soft UK growth and political risk offsetting BoE 'higher-for-longer' bets, while a firm USD into FOMC adds weight.
Support: 1.3330, 1.3300, 1.3240
Resistance: 1.3400, 1.3450, 1.3475
What it said to watch
- Daily close above 1.3415 needed to flip technicals toward 1.3475
- Clean break of 1.3330 exposes 1.3300 then 1.3240
- UK April GDP (f/c -0.1%) Friday could break the range either way
21:01 UTC
Range-bound, drifting to lower edge · RSI 43 · price 1.33433
Multi-week range, lower highs since May.
Cable has spent several weeks pinned in a 1.3330–1.3450 band, with repeated rejections at the 200-day EMA near 1.3400 carving a chain of lower highs since the May peak around 1.3650. Price has slid back to the range floor at 1.3330 into June, trading below both the EMA20 and EMA50. The USD remained firm into FOMC on sticky US inflation, capping Sterling's recovery attempts.
Support: 1.3330, 1.3300, 1.3240
Resistance: 1.3400, 1.3415, 1.3475
What it said to watch
- Daily close above 1.3415 needed to flip the range technicals toward 1.3475
- Loss of 1.3330 on a daily close exposes 1.3300 then 1.3240
- UK April GDP (f/c -0.1%) Friday could break the range either way