Cable is in a clean H4 downtrend, with this week's slide sub-1.3200 driven by USD strength after the hawkish Fed dot-plot repricing; the hawkish BoE hold and a big retail beat failed to lift price. Sequence of lower highs from 1.3460 capped each bounce, and the latest leg swept the 1.3163 swing low before a shallow recovery to 1.3220. ATR is elevated, reflecting an expanding, trending tape rather than compression.
Support: 1.31629, 1.3150, 1.3065
Resistance: 1.3300, 1.3340
What it said to watch
H4 close above 1.3300 eases the bearish read
Failure to hold 1.3163 swing low opens 1.3065/1.3000
UK S&P Global PMIs Tue 23 Jun could materially shift this read
Cable has rolled over hard, breaking the multi-week 1.3330-1.3460 range floor and printing fresh April lows sub-1.3200 as broad USD strength and UK political risk dominate. The hawkish BoE hold and a retail-sales beat failed to lift price, and ATR(14) expansion confirms the move is trend extension, not noise. Price sits well below both EMA20 and EMA50 with the 1.3163 swing low as the immediate downside reference.
Support: 1.3163, 1.3065, 1.3000
Resistance: 1.3253, 1.3300, 1.3461
What it said to watch
H4 close back above 1.3300 (may trough) needed to ease the bearish structure
Loss of 1.3163 swing low opens the path toward 1.3065/1.3000 support
UK S&P Global PMIs Tue 08:30 UTC are the key near-term catalyst
13:01 UTC
Downtrend, extended · RSI 35 · price 1.32303
Lower highs and lower lows, fresh April lows.
Cable rolled over hard from the 1.3460 area, breaking the multi-day 1.3300-1.3460 range and the 1.3200 pivot to print fresh April lows at 1.3163; the move is USD-led after the hawkish Fed repricing, with a strong UK retail beat failing to lift Sterling. ATR(14) has expanded sharply, confirming trend extension rather than compression. Price now sits below both EMA20 and EMA50, with a corrective bounce stalling back at the 1.3200 broken pivot.
Support: 1.3163, 1.3100
Resistance: 1.3200, 1.3262, 1.3300
What it said to watch
H4 close back above 1.3200 broken pivot would ease bearish pressure
Failure to hold 1.3163 swing low confirms continuation lower toward 1.3100
UK PMIs Tue 08:30 GMT are the next catalyst and could materially shift this read
Cable broke down hard through the 1.3200 pivot to fresh April lows at 1.31629 as a hawkish Fed kept the dollar near one-year highs; a 7-2 BoE hold and strong UK retail beat failed to stem the slide. Price is mounting a shallow bounce off the low, now back above 1.3200, but trades well below EMA20 and EMA50 with structure firmly lower-high, lower-low. ATR(14) has expanded sharply, marking trend extension rather than compression.
Support: 1.3200, 1.31629
Resistance: 1.32944
What it said to watch
H4 close below 1.31629 confirms continuation to fresh lows
Failure to hold the 1.3200 pivot reopens the 1.31629 swing low
Sustained move above 1.32944 bounce high would ease bearish pressure
UK S&P Global PMIs (Tue) is the next high-impact catalyst and could shift this read
Lower highs and lower lows since early-month peak.
Cable has rolled over into a clear downtrend, printing successive lower highs and lower lows from the early-month 1.3460 peak; price broke the 1.3260 floor and is pressing fresh two-month lows at 1.3163. The leg is dollar-led — a hawkish Fed hold drove DXY to one-year highs, leaving GBP pinned despite a firm UK retail beat. ATR has expanded with the breakdown and RSI sits near 25, stretched but not yet reversing.
Support: 1.31629, 1.32049, 1.32619
Resistance: 1.33963, 1.34608
What it said to watch
H4 close back above 1.3260 would neutralise the breakdown read
Failure to hold 1.3163 confirms continuation toward the next downside leg
UK S&P Global PMIs (Tue) the main domestic catalyst that could shift this read
Cable has rolled over hard from the 1.346 region, carving lower highs and lower lows and slicing through the 1.3200 psychological floor to fresh two-month lows at 1.3163. The move is dollar-led — the hawkish Fed hold and broad USD surge overwhelmed an otherwise firm UK retail beat. ATR(14) has expanded sharply, confirming an active trend leg rather than a controlled drift.
Support: 1.31629, 1.3100
Resistance: 1.3200, 1.34608
What it said to watch
Sustained H4 close below 1.3163 confirms continuation lower toward 1.3100
Reclaim of 1.3200 would neutralise the breakdown read
UK S&P Global PMIs Tue 23rd are the week's main domestic catalyst and could shift this read
Cable broke the 1.3200 two-month pivot and is pressing fresh lows at 1.3186 after the hawkish-Fed repricing swamped a cautious BoE hold. Structure is a clean downtrend — lower highs and lower lows since the 1.3461 swing — with price trading well below EMA20 and EMA50 and ATR(14) expanding as the decline accelerates. RSI near 25 flags an oversold condition but offers no structural turn yet.
Support: 1.3185, 1.3100
Resistance: 1.3221
What it said to watch
Sustained acceptance below 1.31850 extends the lower-low sequence
Reclaim of the 1.3200 breakdown level would neutralise the breakout read
UK Retail Sales at 06:00 UTC could materially shift this read
GBPUSD has broken down out of the multi-week 1.3330-1.3460 range, driven by Fed hawkishness overpowering the cautiously hawkish BoE hold, and is pressing two-month lows sub-1.3200. Structure is a clean sequence of lower highs and lower lows with ATR(14) expanding as the move extends; price sits well below both EMA20 and EMA50. The broken 1.3330 range floor now acts as overhead supply.
Support: 1.3200, 1.3193
Resistance: 1.3296, 1.3318, 1.3340
What it said to watch
UK Retail Sales today 06:00 UTC could materially shift this read
Sustained H4 close below 1.3200 psych pivot opens further downside
Recovery back above 1.3318 broken range would neutralise the breakdown
GBPUSD broke down through the 1.3200 pivot to two-month lows as a hawkish FOMC and firm US data overpowered the BoE's hawkish hold, leaving sterling on the back foot. Structure is cleanly bearish — lower highs since the 1.3461 swing and an accelerating leg into 1.3193 — with ATR(14) expanding as the move extends. Price is now hovering on the 1.3200 round number after rejection from the 1.3300 former-support zone.
Support: 1.31927, 1.3150
Resistance: 1.3200, 1.3300, 1.34183
What it said to watch
UK Retail Sales today 06:00 UTC (f/c 0.5% MoM) could shift this read
Sustained break of 1.3193 swing low confirms downside continuation
H4 close back above 1.3300 prior low would neutralise the breakdown