Cable has been offered all week and accelerated lower into yesterday's NY session, sliding to fresh two-month lows at 1.31927 as a dovish-read BoE outlook downgrade met a hawkish-Fed USD bid. Price sits below EMA20 and EMA50 with RSI(14) pinned in the low-30s, and the last several bars have flattened into tight consolidation right at the 1.3200 psych pivot. The session high at 1.3253 capped the only meaningful bounce.
Support: 1.3200, 1.31927
Resistance: 1.3253
What it said to watch
H1 close below 1.31927 confirms continuation of the lower-low sequence
Reclaiming 1.3253 session high is needed to ease downside pressure
UK Retail Sales Fri 06:00 UTC could materially shift this read
23:01 UTC
Downtrend, near session lows · RSI 39 · price 1.3204
Lower highs and lower lows, basing at range floor.
Cable has trended lower all week, with the dominant leg coming in the NY session after the BoE held at 3.75% and the market read the inflation-outlook downgrade as dovish. Price broke the 1.3200 two-month-low pivot and is now basing in a tight 1.3193–1.3210 range below both EMA(20) and EMA(50). RSI(14) sits near 39, soft but flattening as the decline stalls into the range floor.
Support: 1.3193, 1.3200
Resistance: 1.3253
What it said to watch
H1 close below 1.3193 confirms a fresh lower-low and extends downside
Reclaim of 1.3253 would ease the immediate selling pressure
UK Retail Sales (Fri 06:00 UTC) could materially shift this read
22:01 UTC
Downtrend, extended · RSI 38 · price 1.3204
Lower highs and lower lows since Monday.
Cable has bled lower all week from Monday's ~1.3450 open, accelerating after the BoE held at 3.75% and the inflation-outlook downgrade was read dovishly against a hawkish-Fed USD bid. The break under 1.3375 and the slide to fresh two-month lows near 1.3200 leaves price pinned below EMA20 and EMA50 with RSI hovering in oversold territory. Sellers have capped each NY-session bounce, and the 1.3193 swing low is the latest floor being tested.
Support: 1.3193, 1.3200
Resistance: 1.3253, 1.3300, 1.3375
What it said to watch
H1 close below 1.3193 confirms a fresh lower-low and presses the 1.3200 pivot
Reclaim of 1.3253 would break the week's lower-high sequence
UK Retail Sales (Fri 06:00 UTC) could materially shift this read
22:01 UTC
Downtrend, fresh lows · RSI 35 · price 1.3204
Lower highs, lower lows; two-month-low break.
Cable has trended lower all week, accelerating after the BoE held at 3.75% in a 7-2 vote that markets read as dovish on the inflation-outlook downgrade. The NY session yesterday drove the impulse leg from 1.3325 through the 1.3200 two-month-low pivot, with price now pinned near 1.3204 and RSI(14) tracking oversold. Price sits well below EMA20 and EMA50, and pullbacks have repeatedly stalled into the falling 20-period line.
Support: 1.3193, 1.3200
Resistance: 1.3253, 1.3300, 1.3325
What it said to watch
UK Retail Sales Fri 06:00 UTC (MoM f/c +0.5%) could force a repricing of this read
Hourly close back above 1.3253 would challenge the lower-high sequence
GBPUSD has trended lower all week, accelerating through the NY session on Wednesday's hawkish Fed and then extending after Thursday's BoE hawkish-hold failed to lift sterling. Price sits at two-month lows near 1.3200, well below EMA20 and EMA50, with the 1.3253 swing high capping the latest bounce and the 1.3300 pivot the broader recovery line. RSI(14) is pressed near 36 as each session high prints lower.
Support: 1.3200, 1.31927
Resistance: 1.3253, 1.3300
What it said to watch
Sustained H1 close below 1.3200 opens further downside toward the session low at 1.31927
Reclaim of 1.3300 pivot would invalidate the lower-high structure
UK Retail Sales Fri 06:00 UTC could materially shift this read
GBPUSD slid into two-month lows near 1.3200, extending a one-two punch this week: soft UK CPI midweek then a hawkish Fed knocked it ~140 pips off the 1.3460 area into the NY session. The BoE's 7-2 hawkish hold and firm jobs data failed to arrest the slide, with price holding well below both EMAs and lower highs stacking. Last NY hours saw a shallow stabilisation around 1.3200 but no recovery of the broken structure.
Support: 1.31927, 1.3200, 1.3160
Resistance: 1.3253, 1.3300, 1.3340
What it said to watch
Sustained H1 close below 1.3200 opens further downside toward 1.3160
Reclaim of 1.3253 bounce high needed to ease downside pressure
1.3300 pivot has capped recovery attempts
UK Retail Sales (Fri 06:00 UTC) could materially shift this read
GBPUSD has trended one-way lower since Wednesday, with the dominant leg coming during the NY session as a softer UK CPI read met a hawkish Warsh Fed, driving a >1% drop through 1.3300 to fresh two-month lows. The 1.3260 prior low and 1.3200 psych level have both given way, leaving price pinned near 1.3197 with RSI(14) in oversold territory and trading well below EMA20/EMA50. Each bounce has stalled below the 1.3253 session high, keeping the lower-high structure intact.
Support: 1.3193, 1.3200
Resistance: 1.3253, 1.3260, 1.3347
What it said to watch
UK Retail Sales Fri 06:00 UTC is the near-term catalyst — a miss risks extension toward 1.3200's downside target
A reclaim of 1.3260 would invalidate the fresh-lows read
Failure to hold 1.3193 confirms continuation of the lower-low sequence
Successive lower highs and lower lows, fresh two-month lows.
GBPUSD has trended lower all week, accelerating into the NY session as the hawkish Fed/Warsh repricing and softer UK CPI double-teamed sterling. The pair sliced through 1.3260 to fresh two-month lows and has now closed below the 1.3200 round number, with RSI(14) pinned in the low 30s and price holding well under EMA20/EMA50. Each pullback this week has stalled at lower highs, leaving 1.3200 as the immediate area to watch overhead.
Support: 1.31927, 1.3150
Resistance: 1.3200, 1.3260
What it said to watch
UK Retail Sales Fri 06:00 UTC is the near-term catalyst; a miss risks extension toward the 1.3150 round number
Hourly close back above 1.3200 would challenge the lower-high sequence
Failure to hold 1.31927 confirms a fresh lower low
19:02 UTC
Downtrend, extended · RSI 31 · price 1.32032
Lower highs, fresh lows.
Cable has been in a clear downtrend since Wednesday, collapsing through 1.3300 after the hawkish Warsh-led Fed and a softer UK CPI print; price is now pinned at the 1.3200 ING target having lost the 1.3260 two-month low. Bounces this week have stalled around the 1.3253 area while RSI(14) sits oversold and price holds well below EMA20 and EMA50. The 1.3300 pivot caps any recovery attempt for now.
Support: 1.3200
Resistance: 1.3253, 1.3260, 1.3300
What it said to watch
An H1 close back above 1.3260 would reclaim the two-month low and ease downside pressure
UK Retail Sales Fri 06:00 GMT (MoM f/c 0.5%) could extend the slide below 1.3200 or spark a bounce
Failure to hold 1.3200 confirms continuation of the lower-low sequence
Lower highs and lower lows, pressing two-month low.
Cable has been in a one-way decline since the hawkish Fed triggered a collapse below the 1.3300 pivot, with the move accelerating through the NY session and into Asia toward the 1.3200 psych level. Price is trading well below EMA(20) and EMA(50) with RSI(14) pinned near oversold, and a bounce high at 1.3253 capped the latest attempt to stabilise. The 1.3200 round number is the immediate floor being tested after the session low printed 1.32017.
Support: 1.3200, 1.3201
Resistance: 1.3253, 1.3300
What it said to watch
UK Retail Sales Fri 06:00 GMT — a clear miss could extend the break of 1.3200
Loss of 1.3200 confirms continuation of the lower-low sequence
A close back above the 1.3300 pivot would neutralise the breakout read
18:01 UTC
Downtrend, fresh lows · RSI 34 · price 1.32075
Lower highs, lower lows.
GBPUSD has trended lower all week, accelerating Wednesday's hawkish-Fed and soft-UK-CPI break below the 1.3300 round level; Thursday's 7-2 BoE hold gave no lift. Price is pinned to fresh two-month lows near the 1.3205 week low after a clean breakdown, sitting well below EMA20 and EMA50 with RSI(14) holding in the low-30s. The prior 1.3260 two-month low now caps as resistance alongside the 1.3253 session high.
Support: 1.3205, 1.3200
Resistance: 1.3253, 1.3260, 1.3300
What it said to watch
UK Retail Sales Fri 06:00 UTC could materially shift this read
Hourly close back above 1.3260 would ease the lower-low sequence
Loss of the 1.3205 week low and 1.3200 psych opens the path lower
18:01 UTC
Downtrend, near week lows · RSI 35 · price 1.32075
Lower highs, lower lows; fresh week low.
GBPUSD has trended one-way lower since Wednesday's soft UK CPI and the hawkish Fed, with the BoE's in-line 7-2 hold offering no lift. Price has held below EMA(20) and EMA(50) through the entire decline, breaking the 1.3260 two-month low and printing fresh lows near 1.3205 into the close. RSI(14) sits in the lower half with no recovery cycle yet.
Support: 1.3205, 1.3200
What it said to watch
UK Retail Sales Fri 06:00 UTC could shift this read sharply
Failure to reclaim 1.3260 keeps the lower-low structure intact
Loss of 1.3200 psych opens the path toward the next downside objectives
17:01 UTC
Downtrend, near 2-month lows · RSI 38 · price 1.32186
Lower highs and lower lows, weak bounce.
GBPUSD has trended hard lower since Wednesday, accelerating through 1.3300 on the hawkish Fed pivot and a soft UK CPI print, with Thursday's in-line BoE hold doing nothing to revive sterling. Price prints fresh two-month lows at 1.32049 and trades below EMA20 and EMA50; the late-session bounce off the lows stalled at 1.32527 and faded back toward 1.3220. RSI(14) sits in the high-30s, reflecting persistent downside momentum rather than a stretched extreme.
Support: 1.32049, 1.3200
Resistance: 1.32527, 1.3300, 1.3337
What it said to watch
An hourly close below 1.3200 extends the move toward the widely-flagged ING 1.3200 zone and beyond
Reclaim of the 1.3300 round number would challenge the downtrend structure
UK Retail Sales Fri 06:00 UTC could materially shift this read
Sterling has been sold steadily since the 1.3460 area early week, with the decisive leg lower coming through the NY session yesterday as the hawkish Fed and softer UK CPI converged — Thursday's in-line BoE hold gave no lift. Price broke 1.3300 and printed fresh two-month lows at 1.32049, now consolidating just above. RSI(14) sits oversold near 32 while price holds well below EMA20 and EMA50.
Support: 1.32049, 1.3200
Resistance: 1.32527, 1.3300, 1.33247
What it said to watch
UK Retail Sales Fri 06:00 UTC could materially shift this read
Failure to hold 1.3200 extends the lower-low sequence
H1 close back above 1.33000 would ease the breakdown
Cable broke down through the 1.3300 pivot into the FOMC and extended lower to fresh two-month lows near 1.3205, with a hawkish Fed and soft UK CPI driving the USD-side strength. Price has held below EMA(20)/EMA(50) since the breakdown and every bounce has been capped by lower highs; the latest attempt rejected at the 1.3253 session high. RSI(14) sits near 34, tracking the descent without yet flagging divergence.
Support: 1.3205, 1.3200, 1.3100
Resistance: 1.3253, 1.3300, 1.3325
What it said to watch
Hourly close below 1.3200 psych opens the path toward ING's 1.3100 target
Recovery above the 1.3300 pivot would invalidate the downside continuation
UK Retail Sales Fri 06:00 UTC could materially shift this read
16:01 UTC
Downtrend, accelerating · RSI 38 · price 1.32274
Lower highs, fresh two-month lows.
Cable has been pinned in a clean downtrend all week, with the dominant leg coming after Wednesday's hawkish Fed drove a >1% USD rally; the 1.3300 pivot gave way and the prior two-month low at 1.3260 has flipped to resistance. The latest NY session sliced to fresh lows at 1.32049 before a shallow bounce to 1.3227, price holding well below EMA20 and EMA50 with RSI(14) hovering in the high-30s. Each rally this week has been sold into the descending lower-highs.
Support: 1.32049, 1.3200
Resistance: 1.3260, 1.3300, 1.33247
What it said to watch
UK Retail Sales Fri 06:00 UTC is the next directional test for this read
Failure to reclaim 1.3260 keeps the lower-low structure intact
Hourly close back above 1.3300 would neutralise the breakdown
Cable broke down through the 1.3300 pivot into the NY session after the hawkish Fed reset and soft UK CPI, accelerating to a fresh two-month low at 1.32049 before stabilising near 1.3236. Price trades well below EMA20 and EMA50 with RSI(14) hovering in oversold territory, and the bounce off 1.3205 has so far stalled under the 1.32492 session high. Each pullback this week has been sold into lower highs.
Support: 1.32049, 1.3200, 1.3100
Resistance: 1.32492, 1.32967, 1.33247
What it said to watch
H1 close below 1.3200 opens the path toward the 1.3100 BBH target
Reclaim of the 1.3300 pivot would neutralise the breakdown
UK Retail Sales Fri 06:00 UTC could materially shift this read
Cable cratered through the 1.3300 pivot into fresh two-month lows during NY hours, the leg driven by soft UK May CPI and a hawkish Warsh-led Fed that lifted the dollar broadly. Price trades well below both H1 EMAs with RSI(14) pinned in the mid-30s after a steep one-way slide from 1.3400 to 1.3205. A shallow bounce off 1.3205 has stalled below 1.3249, leaving the lower-high sequence intact.
Support: 1.3205, 1.3200
Resistance: 1.3249, 1.3300
What it said to watch
UK Retail Sales Fri 06:00 UTC could materially shift this read
Failure to hold 1.3205 opens the path toward the 1.3200 ing target
An H1 close back above 1.3300 pivot would neutralise the breakout
Cable has been on the back foot all week and accelerated lower after Wednesday's hawkish Warsh-led Fed, slicing through 1.3300 and the prior two-month low at 1.3260 into the NY session to print 1.32049. Soft UK May CPI compounded the move, and price sits well below EMA(20)/EMA(50) with RSI stretched near oversold. The late bounce to 1.32483 has stalled, leaving the 1.3260 prior-low band as overhead resistance.
Support: 1.32049, 1.3200
Resistance: 1.32483, 1.3260, 1.3300
What it said to watch
Hold below 1.32600 keeps the lower-high structure intact
H1 close back above 1.33000 pivot would unwind the breakdown read
Loss of 1.32049 week low opens the 1.3200 psych level
UK Retail Sales Fri 06:00 UTC and GfK tonight could materially shift this read
Cable broke down hard through the NY session, slicing the 1.3300 pivot and the prior two-month shelf as a hawkish Warsh-led Fed and soft UK CPI weighed; price now sits at fresh week lows around 1.3232, well below EMA20 and EMA50. RSI(14) is pressed into the low 30s after the impulsive leg, and the late bounce off 1.32049 stalled at 1.32483. The 1.3300 pivot is now overhead resistance after two failed defences earlier in the week.
Support: 1.32049, 1.3200, 1.3100
Resistance: 1.32483, 1.32945, 1.3300
What it said to watch
UK Retail Sales Fri 06:00 UTC could materially shift this read
Failure to hold 1.3200 opens the path toward 1.3100
H1 close back above 1.3300 invalidates the breakdown read
Cable has sold off hard through the back end of this week, breaking the 1.3260 two-month low into fresh lows near 1.3205 as a hawkish Warsh-led Fed kept the USD bid. The decline steepened through yesterday's NY session and into today, with RSI(14) pinned in oversold territory and price trading well below EMA20 and EMA50. The 1.3260 prior low now sits overhead as resistance, with 1.3300 the broader pivot.
Support: 1.32049, 1.3100
Resistance: 1.3260, 1.3300
What it said to watch
Failure to hold 1.3205 opens the path toward the 1.3100 psych level
An H1 close back above 1.3260 prior low would negate the breakdown
UK Retail Sales Fri 06:00 UTC could materially shift this read
Cable broke clean below the 1.3260 two-month low through the NY session, extending a multi-day slide off the 1.3461 high and printing fresh lows near 1.3210. The leg is largely a USD story after the hawkish Fed, with the earlier UK jobs beats and in-line BoE hold failing to slow the move. RSI(14) is oversold but not yet showing divergence as price stacks lower lows.
Support: 1.32049, 1.3200, 1.3100
Resistance: 1.3260, 1.3300, 1.3396
What it said to watch
Reclaim above 1.3260 would ease the lower-low read and re-open 1.3300
Sustained trade below 1.3200 puts the 1.3100 area in focus
UK Retail Sales Fri 06:00 UTC could materially shift this read
Cable has been in a one-way slide since midweek, breaking the 1.3300 pivot and printing a fresh two-month low at 1.3221 as the hawkish Fed repricing and soft UK CPI compounded GBP selling. Today's BoE decision accelerated the move lower, with price well below EMA20/50 and RSI(14) pinned near oversold. The 1.3300 level that capped Tuesday-Wednesday action now sits overhead as resistance.
Support: 1.32208
Resistance: 1.3300, 1.3340, 1.3417
What it said to watch
H1 close back above 1.3300 pivot would neutralise the breakdown read
BoE minutes / vote split still digesting — a hawkish split could lift price toward the 200-dma ~1.3417
US Initial Jobless Claims at 12:30 UTC could extend or unwind the move
Cable broke decisively below the 1.3300 pivot into a two-month low near 1.3220, extending the slide that began after Wednesday's soft UK CPI and was compounded by Warsh's hawkish Fed debut. Price has traded under EMA20 and EMA50 all week, with RSI(14) pinned in oversold territory after the latest NY-session leg lower. A brief Asia recovery to 1.3324 was rejected and faded back through 1.3300.
Support: 1.32208, 1.3200, 1.3100
Resistance: 1.3300, 1.33247
What it said to watch
BoE vote split is the swing factor — a hawkish dissent could lift price back above the 1.3300 pivot
H1 close back above 1.3300 would neutralise the breakout read
Failure to hold 1.3220 opens the path toward the 1.3100 bbh target
Cable has bled lower all week, with the decisive leg coming after yesterday's hawkish Fed and soft UK CPI; the 1.3300 figure broke decisively and price now sits at fresh 2-month lows near 1.32385. RSI(14) is pressed toward oversold and price trades well below both EMA(20) and EMA(50), with no pullback yet finding the 20-period mean. The BoE decision is the immediate binary into the next bar.
Support: 1.32335, 1.3260
Resistance: 1.3300, 1.33247
What it said to watch
BoE rate decision in ~12 min is the binary event for this read
Loss of 1.32335 opens the path toward the 1.3260 2-mo low
Reclaim of 1.3300 figure would ease the downside pressure
11:01 UTC
Downtrend, accelerating · RSI 24 · price 1.32385
Successive lower highs/lows, fresh 2-month lows.
Cable spent most of the week pinned near 1.3400 before a sharp two-stage slide into the NY session — first through 1.3300, then through the prior 2-month low near 1.3260 — driven by the hawkish Warsh-led Fed and softer UK CPI. Price now prints fresh lows around 1.3238 with RSI(14) deeply oversold and well below both EMAs, leaving no bounce of note yet. The 1.3300 figure that broke is the nearest reference overhead.
Support: 1.32335, 1.3200, 1.32619
Resistance: 1.32967, 1.3300, 1.33247
What it said to watch
Failure to hold 1.32335 opens the path toward the 1.3200 round number
Reclaim of the 1.3300 figure would ease the breakout's downside pressure
BoE decision/minutes imminent and UK Retail Sales Fri 06:00 UTC could materially shift this read
10:01 UTC
Downtrend, accelerating · RSI 31 · price 1.32423
Lower highs and lower lows, fresh week low.
Cable has unwound the early-week recovery in a steep multi-session slide, breaking below the 1.3260 two-month low into a fresh session low at 1.3241 as the post-Warsh hawkish-Fed dollar bid dominated. Price trades well below EMA20 and EMA50 with RSI(14) pressed near 31, and the 1.3300 round number now caps the tape after firmer UK jobs data failed to arrest the drop. Rallies this week have stalled under the 200-DMA at 1.3417.
Support: 1.32411, 1.3200
Resistance: 1.32619, 1.3300, 1.3417
What it said to watch
BoE rate decision and vote split in ~1h (11:00 UTC) is the dominant catalyst — a hawkish dissent could squeeze this move
Reclaim of the 1.3300 round number would ease the downside pressure
Failure to hold the 1.3241 session low opens the 1.3200 psych level
1.32619 broken 2-month low now acts as resistance on any bounce
10:01 UTC
Downtrend, accelerating · RSI 26 · price 1.32423
Lower highs and lower lows, fresh two-month low.
Sterling collapsed through 1.3300 in the prior NY session and extended the slide into early London, printing a fresh session low at 1.32411 below the 1.3260 two-month low after Warsh's hawkish Fed reset the dollar. Price sits well below EMA20/EMA50 with RSI(14) pinned in oversold territory, and each bounce has capped at progressively lower highs. The 1.32600 level that held all week has flipped to overhead resistance.
Support: 1.3200, 1.32411
Resistance: 1.3260, 1.3300
What it said to watch
BoE rate decision and vote split at 11:00 UTC (~1h) could materially shift this read
H1 close back above 1.33000 would neutralise the breakdown
Sustained acceptance below 1.32000 psych extends the lower-low sequence
Lower highs into a sharp breakdown, now basing above the 2mo low.
Cable broke down hard mid-week, with the hawkish Warsh-led Fed driving a 1%+ slide that cracked 1.3300 and printed a two-month low at 1.3262. Price has since stabilised in a tight 1.3285–1.3325 band but sits below both EMA20 and EMA50, with RSI(14) capped near 42. The BoE decision in roughly two hours is the binary that frames the next move.
Support: 1.3285, 1.3262
Resistance: 1.3325
What it said to watch
BoE rate decision and vote split at 11:00 UTC (~2h) could materially shift this read
H1 close below 1.3262 confirms a fresh lower low
Reclaim of 1.3325 bounce high needed to challenge the descending lower-highs
09:01 UTC
Downtrend after sharp break · RSI 41 · price 1.32951
Broke 1.3300, consolidating above two-month low.
Cable was hammered through 1.3300 to a 1.3262 two-month low on the hawkish Warsh-led Fed, the dominant move of the week landing in one impulsive sell-off. Price has since stabilised in a tight 1.3285–1.3320 range, holding well below EMA20, with RSI(14) recovering off oversold to the low-40s. The bounce off 1.3262 has been USD profit-taking, not sterling demand.
Support: 1.32889, 1.32619
Resistance: 1.3320, 1.3370
What it said to watch
BoE rate decision and vote split at 11:00 UTC (~2h) is the binary risk for this read
Close above 1.3320 consol high opens the path back toward EMA20 near 1.3370
Failure to hold 1.3262 week low confirms a fresh lower-low
GBPUSD cratered through 1.3300 during the NY session as soft UK CPI and Warsh's hawkish Fed debut hammered sterling, spiking to a 1.32619 two-month low. Price has since clawed back into the low 1.330s, holding the 1.3300 psych handle but capped well below the broken 200-DMA at 1.3417. RSI(14) is recovering off oversold while EMA20 and EMA50 cap from above.
Support: 1.3300, 1.32849, 1.32619
Resistance: 1.33247, 1.3405, 1.3417
What it said to watch
BoE decision, minutes & vote in ~3.5h could materially shift this read
Failure to hold 1.3300 reopens the 1.32849 swing low and 1.32619 week low
Reclaim of the 1.34050 prior pivot needed to challenge the 200-dma
GBPUSD cratered through 1.3300 to two-month lows at 1.3262 yesterday as soft UK core CPI met a hawkish Warsh-led Fed, breaking the 1.3340 support shelf. Price has since coiled in a tight 1.3285–1.3325 band just above the 1.3300 round number, holding well below EMA20 and EMA50 with RSI cycling in the low 40s. The session high at 1.3325 caps the bounce while 1.3262 marks the breakdown floor.
Support: 1.3300, 1.32619
Resistance: 1.33247, 1.3340
What it said to watch
BoE rate decision and vote split at 11:00 UTC (~3.5h) is the dominant near-term catalyst
Sustained break below 1.3262 confirms the next lower-low and opens 1.3100
H1 close back above 1.3340 would negate the breakdown read
07:01 UTC
Downtrend, bounce after impulsive drop · RSI 42 · price 1.33041
GBPUSD collapsed roughly 140 pips into the NY session, slicing through 1.3300 to a two-month low at 1.32619 as a hawkish Warsh-led Fed hold powered a broad USD rally. Price has since clawed back above 1.3300 but stalled under the 1.33196 bounce high, with RSI lifting off oversold while well below both EMAs. The 1.34000 prior-support shelf and 200-DMA near 1.34170 now cap the structure from above.
Support: 1.32849, 1.32619
Resistance: 1.33196, 1.3400, 1.3417
What it said to watch
BoE decision at 11:00 UTC (~4h) could materially shift this read
Loss of 1.32619 confirms continuation to fresh lows
A sustained reclaim of 1.34000 would ease the breakdown read
Range break to two-month lows, consolidating above 1.3300.
Sterling held a 1.3400–1.3460 range through Monday and Tuesday before collapsing ~140 pips into the NY session as a hawkish Warsh-led FOMC powered a broad USD rally, slicing through 1.3300 to a two-month low at 1.3262. Price has since clawed back above 1.3300 and is consolidating in a tight 1.3290–1.3320 band with RSI(14) recovering off oversold. Both EMA(20) and EMA(50) sit well above price after the drop.
Support: 1.3300, 1.3262
Resistance: 1.3340, 1.3400, 1.3417
What it said to watch
BoE decision at 11:00 UTC (~4h) could materially shift this read
Failure to hold 1.3300 reopens the 1.3262 session low
Reclaim of 1.3340 then 1.3400/200-DMA 1.3417 would cap the decline
Soft UK May CPI plus a hawkish-FOMC USD bid drove GBPUSD through the 1.3400 psych break in the NY session, with a single impulsive leg to a weekly low of 1.32619. Price has since stabilised and is consolidating around 1.3310, but trades well below EMA20/50 with RSI(14) recovering off oversold. The 1.33185 session high caps the bounce so far.
Support: 1.32849, 1.32619
Resistance: 1.33185, 1.3400, 1.3417
What it said to watch
UK jobs at 06:00 UTC then BoE decision/minutes at 11:00 UTC are the dominant catalysts for this read
Loss of the 1.32619 weekly low opens the path toward the 1.3100 zone
Reclaim of the 1.34000 psych break would neutralise the downside structure
Lower highs, broke weekly range floor; consolidating off the low.
Sterling was knocked off the 1.3460 week high and broke hard through the 1.3400 floor during yesterday's session, printing a weekly low at 1.32619 as soft UK CPI met USD strength after the hawkish FOMC. Price now sits below EMA20 and EMA50 with RSI recovering off oversold toward 42, basing around 1.3310. The 1.3340 session high caps the bounce; the broken 1.3400 zone and 200-dma at 1.3417 sit well overhead.
Support: 1.3300, 1.32619
Resistance: 1.3340, 1.3417
What it said to watch
UK labour data at 06:00 UTC and BoE decision at 11:00 UTC are the week's dominant catalysts and could reset this read
Loss of the 1.32619 weekly low confirms continuation lower
H1 close back above 1.3340 session high would ease the downside structure
05:01 UTC
Downtrend after sharp breakdown · RSI 39 · price 1.33175
Broke weekly range, consolidating near lows.
Sterling spent most of the week pinned to 1.3400 before a sharp breakdown into the NY session, sliding to a weekly low of 1.3262 as soft UK CPI met a hot US retail sales print and hawkish Fed dot plot. Price has since stabilised in a tight 1.3290-1.3320 consolidation, holding below EMA20 and EMA50 with RSI(14) recovering off oversold but stuck under 40. The 200-DMA at 1.3417 sits well above as the broader pivot.
Support: 1.3300, 1.32619
Resistance: 1.3340, 1.3400, 1.3417
What it said to watch
UK labour data at 06:00 UTC then BoE decision at 11:00 UTC — dominant catalysts that can break this consolidation
Loss of the 1.3262 weekly low opens a path toward 1.3100
Recovery above the 1.3340 breakdown level would ease the offered tone
05:01 UTC
Downtrend after sharp breakdown · RSI 44 · price 1.33175
Broke below weekly range, now basing near 1.331.
GBPUSD ripped lower through the 1.3400 weekly floor and the 200-DMA at 1.3417 after soft UK May CPI met a hot US retail-sales beat, bottoming at 1.32619 before stabilising near 1.331. Price has held a tight consolidation since, with RSI(14) lifting off oversold but still sub-50 and well under EMA20/EMA50. Breakdown level at 1.3340 now caps the recovery.
Support: 1.32849, 1.32619
Resistance: 1.3340, 1.3417
What it said to watch
UK labour data 06:00 UTC then BoE decision 11:00 UTC are the week's dominant catalysts
Reclaim of 1.3400/200-dma needed to negate the breakdown
Loss of 1.32619 swing low opens lower toward the 1.3100 zone
04:01 UTC
Downtrend, basing after break · RSI 41 · price 1.3312
Lower high, lower low; broke below week range.
GBPUSD held a 1.3400/1.3460 range for most of the week before a sharp NY-session break Wednesday, the hawkish FOMC and hot US retail sales lifting the dollar while soft UK core CPI kept sterling offered. The slide ran to a weekly low at 1.3262 before price stabilised, now consolidating just above the 1.3300 round level with RSI(14) recovering off oversold but still sub-50. The 1.3340 breakdown level caps the bounce and the 200-DMA at 1.3417 sits well overhead.
Support: 1.3300, 1.32619
Resistance: 1.3340, 1.3417
What it said to watch
UK labour data at 06:00 UTC then BoE decision at 11:00 UTC are the week's dominant catalysts and could reset this read
Loss of the 1.3262 weekly low opens the path toward 1.3100
Reclaim of the 1.3340 breakdown level would neutralise the lower-high structure
04:01 UTC
Downtrend, consolidating after impulse · RSI 41 · price 1.3312
Lower high then sharp break to weekly low, basing.
GBPUSD sold off sharply during NY hours yesterday, breaking 1.3340 and tagging a weekly low at 1.32619 after soft UK core CPI met a US retail sales beat and a hawkish Fed hold. Price has since stabilised around 1.3310, holding below EMA20 and EMA50 with RSI recovering off oversold. The recovery has so far been capped by a session high at 1.33185.
Support: 1.32619, 1.3300
Resistance: 1.33185, 1.3337
What it said to watch
UK labour data at 06:00 UTC then BoE decision at 11:00 UTC — the week's dominant catalysts for sterling
Loss of 1.32619 weekly low opens the 1.3100 zone
H1 close back above 1.33370 breakdown would neutralise the bearish read
03:01 UTC
Downtrend, bouncing off lows · RSI 38 · price 1.33119
Broke weekly range, recovering from swing low.
Cable held a 1.3410–1.3460 range for most of the week before a sharp breakdown through the 200-DMA (1.3417) and weekly low, accelerating into the NY session as the hawkish FOMC hold and hot US retail sales bid the dollar; soft UK CPI had already kept the pound heavy. Price tagged 1.32619 and RSI(14) pressed into oversold before a modest recovery toward 1.3310. Price remains well below EMA20 and EMA50.
Support: 1.32619, 1.32849
Resistance: 1.33185, 1.3399, 1.3417
What it said to watch
H1 close back above 1.3340 reclaims part of the breakdown shelf
Failure to hold 1.32619 swing low confirms a fresh lower low
UK jobs 06:00 UTC and BoE decision 11:00 UTC could materially shift this read
Cable spent Monday-Wednesday pinned in a tight 1.3410-1.3460 range before a sharp NY-session collapse through the 1.3410 weekly pivot and 200-DMA, driven by the hawkish Warsh-led Fed and a soft UK CPI print. The move ran to a fresh weekly low at 1.3262 before stabilising; price has since clawed back to 1.3312 but sits well below EMA20 and EMA50. The 1.3340 breakdown shelf now caps the recovery, with RSI(14) lifting off oversold toward the mid-30s.
Support: 1.32849, 1.32619
Resistance: 1.33185, 1.3340, 1.3417
What it said to watch
UK jobs (Thu 06:00 UTC) and BoE decision (Thu 11:00 UTC) could materially reshape this read
US jobless claims and Philly Fed (today 12:30 UTC) feed the post-FOMC USD bid
A reclaim of 1.3340 breakdown shelf would soften the bearish structure
Failure to hold 1.3262 weekly low opens the path toward 1.3100
Cable spent most of the week hemmed between 1.3410 and 1.3460 before a sharp NY-session breakdown sliced through the weekly low and the 200-DMA at 1.3417, bottoming at 1.32619 as the hawkish FOMC tilt met soft UK CPI. Price has since stabilised just above the 1.3300 psych level, with the broken 1.3340 prior low now acting as overhead resistance. RSI(14) is recovering off oversold but momentum and both EMAs remain firmly bearish.
Support: 1.32619, 1.3300
Resistance: 1.3340, 1.3417
What it said to watch
Reclaim of 1.3340 prior low would ease the breakdown read
Failure to hold 1.3300 psych reopens the 1.32619 weekly low
UK labour data Thu 06:00 UTC and BoE 11:00 UTC could materially shift this read
US Jobless Claims today 12:30 UTC a near-term risk
02:01 UTC
Downtrend, bouncing off lows · RSI 39 · price 1.33093
Lower lows, broke weekly low.
GBPUSD broke down hard into the NY session, slicing through the 1.3410 weekly low and the 200-DMA in one impulse to 1.32619 — soft UK May CPI plus a hawkish FOMC repricing drove the move. Price is now consolidating just above 1.33000 and probing the 1.33177 session high, with RSI lifting off oversold but still sub-40. The 1.3410 weekly low and 200-DMA near 1.3417 now sit overhead as resistance.
Support: 1.32849, 1.32619
Resistance: 1.33177, 1.3410, 1.3417
What it said to watch
Recovery stalling under 1.33177 keeps the lower-low structure intact
Hourly close back above 1.34100 weekly low would neutralise the breakdown
Loss of 1.32619 swing low extends the downtrend
UK jobs (Thu 06:00 UTC) then BoE (Thu 11:00 UTC) can materially shift this read
Cable consolidated in a 1.3410–1.3460 band through Tuesday before breaking sharply lower late in the session, shedding roughly 150 pips to a 1.32619 low as soft UK May CPI reinforced a dovish BoE read against a firm post-FOMC dollar. Price is grinding back off the low toward 1.33036 with RSI(14) lifting from oversold; the 1.33345 breakdown shelf now caps. Prior range support around 1.3410 has flipped to overhead resistance.
Support: 1.32849, 1.32619
Resistance: 1.33345, 1.33935, 1.3410
What it said to watch
UK labour data Thu 06:00 UTC and BoE decision Thu 11:00 UTC could materially shift this read
Reclaim of 1.33345 would ease the breakdown read
Failure to hold 1.32619 confirms continuation lower
Cable spent most of the week boxed between 1.3410 and 1.3460, then broke hard lower late in the NY session, slicing through the 200-DMA at 1.3417 and the prior weekly low into a 1.3262 trough — the move that followed soft UK May CPI and a dovish repricing of the BoE. Price now sits well below EMA20 and EMA50 with RSI(14) bouncing off oversold near 38 in a shallow recovery. The 1.33345 breakdown level is the first overhead area to watch for retest or rejection.
Support: 1.32619, 1.32849
Resistance: 1.33345, 1.3410, 1.3417
What it said to watch
Reclaim of 1.33345 would question the breakdown read
A close back above the 1.3410 weekly low / 1.3417 200-dma negates the bearish structure
UK labour data 06:00 UTC and BoE decision 11:00 UTC Thu could materially shift this read
Failure to hold 1.32619 confirms continuation of the lower-low sequence
Cable spent most of the week pinned in a 1.339–1.346 range capped by the 200-DMA at 1.3417, then dropped sharply through the NY session as the soft May UK CPI miss met a hawkish FOMC dot-plot repricing. Price sliced the 1.3410 weekly low and 200-DMA in one impulse to 1.32619, and the bounce has stalled near 1.3297 with RSI(14) oversold. The prior range floor around 1.3337 now sits overhead as resistance.
Support: 1.32619, 1.32849
Resistance: 1.3337, 1.3410, 1.3417
What it said to watch
UK labour data 06:00 UTC and BoE decision 11:00 UTC could materially shift this read
Reclaim above 1.3337 breakdown level would question the downside extension
Failure to hold 1.32619 confirms a fresh lower low
Cable spent most of the week boxed between 1.3400 and 1.3460, then dumped through the floor during the NY session as soft UK CPI met a hawkish FOMC dot plot — the move sliced the 1.3410 weekly low and the 200-DMA at 1.3417 in two outsized bars. Price probed 1.3262 before a thin stabilisation near 1.3297, sitting well below EMA20/50 with RSI in the low 30s. The prior range base at 1.3410 now acts as overhead resistance.
Support: 1.32619, 1.3285
Resistance: 1.3410, 1.3417
What it said to watch
Reclaim of 1.3410/1.3417 would negate the breakdown and put price back in-range
UK jobs 06:00 UTC and BoE decision 11:00 UTC Thu could materially shift this read
Sustained trade below 1.3262 confirms continuation toward the 1.3100 zone