Consolidating below 200-day sma after week-low bounce.
Cable swept the week low near 1.3325 mid-week and rallied hard into the 200-day SMA at 1.3415, with the move topping at 1.3433 before stalling — a recovery powered by US-Iran risk-on and sticky UK inflation expectations rather than the in-line April GDP. Price has since coiled in a tight 1.3390–1.3425 band, with lower highs capping each attempt at the SMA and RSI(14) easing back toward the mid-50s. Holding above the 50-bar mean but trading just under EMA(20), the rally's momentum has flattened into the SMA test.
Support: 1.3393, 1.3355, 1.33248
Resistance: 1.3415, 1.34332, 1.3465
What it said to watch
Sustained H1 close above 1.3415 needed to extend toward 1.3433/1.3465
Loss of 1.3393 reopens 1.3355 and the 1.3325 week low
UK CPI Wed 06:00 UTC and FOMC 18:00 UTC could materially shift this read
Cable rallied off this week's 1.3325 low to test the 200-day SMA at 1.3415, supported by US-Iran risk-on and sticky UK inflation expectations. Price has since stalled in a tight range, with 1.3425/1.3433 capping the highs into the NY session and RSI(14) cooling back to neutral. The 1.3415 area has flipped to overhead resistance after two rejection attempts.
Support: 1.3393, 1.3382, 1.3325
Resistance: 1.3415, 1.3425, 1.3433
What it said to watch
H1 close above 1.3415 reopens 1.3425/1.3433
Failure to hold 1.3393 risks a lower low toward 1.3382
UK CPI Wed Jun 17 and FOMC could materially shift this read
Cable rallied off Wednesday's 1.3324 low through Thursday's NY session, peaking at 1.3433 before coiling into a tight range around the 200-day SMA at 1.3415. RSI(14) has cooled back to neutral as price pins just under the average, with pullbacks so far holding above 1.3394. In-line US CPI and a hot PPI kept the dollar two-way while GBP rode broad risk-on.
Support: 1.3394, 1.3343, 1.3324
Resistance: 1.3415, 1.34257, 1.34332
What it said to watch
Sustained H1 close above 1.3415/1.3433 needed to extend the uptrend
Failure to hold 1.3394 opens the path back to 1.3343
UK CPI Wed 06:00 UTC and FOMC Wed 18:00 UTC could materially shift this read
Higher lows since Thu, consolidating under 200-day SMA.
Cable rallied off Thursday's 1.3324 low to print a week high at 1.3433 on US-Iran risk-on and sticky UK inflation expectations, then stalled at the 200-day SMA near 1.3415. Price has consolidated sideways into the NY-Asia transition, drifting back to 1.3404 with RSI(14) cycling around the midline. The 1.3415 area has capped the latest attempts and is the immediate ceiling.
Support: 1.33894, 1.33555, 1.33243
Resistance: 1.3415, 1.34332
What it said to watch
Sustained H1 close above 1.3415 opens 1.3433 then 1.3465
Failure to hold 1.3389 swing low confirms a lower-low
UK CPI Wed and FOMC Wed could materially shift this read