Cable slid for a third straight day to a fresh April low, breaking sharply through the 1.3345 area during NY hours mid-week as a hawkish Fed lifted USD and UK political/fiscal risk capped sterling despite a hot retail beat. Price has since carved a base between 1.3163 and 1.3250, reclaiming EMA(20) but holding well below EMA(50). RSI(14) has recovered off oversold into the mid-40s as the week-low test held.
Support: 1.3210, 1.3163, 1.3065
Resistance: 1.3250, 1.3300, 1.3345
What it said to watch
Loss of 1.3163 confirms a lower-low and exposes 1.3065/1.3000
H1 close above 1.3250 needed to challenge the 1.3300 may trough resistance
Mon 08:30 UTC S&P Global flash PMIs could materially shift this read
Lower highs / lower lows, consolidating near lows.
Cable has slid for a third straight day since Monday's open, breaking sharply lower into the NY session and printing a fresh April low at 1.3168 — a move driven by hawkish-Fed USD strength and UK political/fiscal risk overriding the strong retail beat and BoE hold. Price has since steadied in a 1.3200–1.3245 band with RSI(14) lifting off oversold, holding just above a flattening EMA(20) but capped well under EMA(50). The 1.3300 May trough remains the key barrier to any recovery.
Support: 1.3200, 1.3168, 1.3065
Resistance: 1.3245, 1.3300, 1.3325
What it said to watch
S&P Global flash PMIs Mon 08:30 UTC could materially shift this read
H1 close below 1.3168 confirms a lower-low, exposing 1.3065
Reclaiming 1.3300 needed to neutralise the downtrend read