GBPUSD broke down from its multi-week 1.3400–1.3660 range in mid-June, the slide accelerating after soft UK flash PMIs and a broadly bid USD at 13-month highs. Price sits below a falling EMG20 and EMG50, now pressing the 1.3160 major support after a steep multi-day decline; the prior reaction low at 1.31629 is the immediate floor. RSI(14) is near 33, reflecting an extended but not yet exhausted leg lower.
Support: 1.3160, 1.3110
Resistance: 1.3235, 1.3265
What it said to watch
Daily close below 1.3160 opens the path to 1.3110
Reclaim of 1.3235 would ease the downside pressure toward 1.3265
US Core PCE Thursday could materially shift this read
21:01 UTC
Downtrend, fresh lows · RSI 37 · price 1.31994
Lower highs, range break to downside.
Cable has rolled over from the early-May peak near 1.3657 into a clear sequence of lower highs, breaking the mid-1.33s base last week on the back of June UK flash PMI misses and a USD pushing 13-month highs. Price now sits at 1.3199, below both EMAs with the EMA(50) turning lower, and is probing the 1.3160 support that has capped the downside through this leg. RSI near 36 reflects sustained pressure without yet reaching oversold.
Support: 1.3160, 1.3110
Resistance: 1.3235, 1.3290
What it said to watch
Daily close below 1.3160 opens the path to 1.3110
US Core PCE Thu could materially shift the USD leg and this read
Reclaim of 1.3235/1.3290 would neutralise the lower-high structure