Lower highs, lower lows; testing support after 7-mth low.
Cable has trended lower all window since the break below 1.3400, printing a fresh 7-month low at 1.3140 before stabilising. The in-line-to-soft US PCE print took the edge off the dollar bid, allowing a short-covering bounce off the low back to 1.3200. Structure stays bearish with lower highs intact, but RSI is depressed and price has reclaimed the EMA20.
Support: 1.3140, 1.3110
Resistance: 1.3219, 1.3245
What it said to watch
H4 close above the 1.3245 resistance band challenges the lower-high sequence
Failure to hold 1.3140 confirms a lower-low and exposes 1.3110
UK Q1 GDP Tue 06:00 UTC could materially shift this read
21:01 UTC
Downtrend, bouncing off lows · RSI 44 · price 1.32008
Lower highs, lower lows; recent base near 1.3140.
Cable has trended lower across the window from 1.3460 toward fresh 7-month lows, pressured by soft UK PMIs and a firm dollar after in-line US PCE. Buyers have stepped in twice around 1.3140, forming a tentative double bottom, and price has reclaimed the EMA20 while still capped below the EMA50. The 1.3245 band remains the cap on rebounds.
Support: 1.3140, 1.3110
Resistance: 1.3245
What it said to watch
H4 close below 1.3140 swing low exposes 1.3110 then the 1.30 area
Close above 1.3245 cap would challenge the downtrend structure
UK Q1 GDP Tue 30 Jun 06:00 UTC could materially shift this read
GBPUSD remains in a clean H4 downtrend, carving lower highs and lower lows since the 1.3460 area as sterling stays pressured by UK political turmoil and soft June PMIs against a firm dollar. Price printed a fresh 7-month low at 1.3140 before a bounce back through 1.3200; RSI was oversold and is recovering, consistent with relief off the lows. US Core PCE came in line, leaving the broader structure intact and the descending lower-high line still capping rallies.
Support: 1.3140, 1.3110
Resistance: 1.3200, 1.3265
What it said to watch
H4 close above 1.3265 breaks the descending lower-high structure
Loss of 1.3140 confirms a lower-low and opens 1.3110 then 1.30
US Fedspeak/PCE follow-through could materially shift this read
Lower highs and lower lows, testing 7-month low base.
Persistent H4 downtrend with successive lower lows since mid-window, GBPUSD grinding to 7-month lows near 1.3140 on UK political turmoil and weak June flash PMIs against a firm dollar. The latest bar rebounded off 1.3173 to close 1.32145 after an in-line US Core PCE print, an oversold relief bounce within the broader decline. Price holds below EMA20 and EMA50, keeping structure tilted lower until rebounds clear the 1.3255 area.
Support: 1.31415, 1.3110, 1.3000
Resistance: 1.3200, 1.3255
What it said to watch
Break of 1.31415 swing low opens 1.3110 then the 1.30 psych area
H4 close above 1.3255 rebound cap would challenge the lower-high sequence
US Fedspeak today (Williams, Goolsbee) could materially shift this read
13:01 UTC
Downtrend, near 7-month lows · RSI 40 · price 1.31549
Lower highs and lower lows since mid-window.
Cable has trended steadily lower over the window, printing successive lower highs and lower lows into a 7-month low at 1.3140 as UK PMI misses and a hawkish-Fed dollar weighed on sterling. Price is holding just above that low with a shallow bounce stalling under the 1.3200 psych level, and RSI sits in oversold territory. EMA20 and EMA50 both cap from above, keeping structure heavy.
Support: 1.31399, 1.3110, 1.3000
Resistance: 1.3200, 1.3245
What it said to watch
US Core PCE print today is the dominant cable driver — could materially shift this read
Break of the 1.3140 7-mo low opens 1.3110 then the 1.30 psych area
H4 close above 1.3245 prior swing invalidates the lower-high structure
09:01 UTC
Downtrend, oversold but heavy · RSI 42 · price 1.3188
Lower highs and lower lows since mid-month.
Cable is in a clean H4 downtrend, carving lower highs and lower lows since the 1.346 rejection, with the latest leg taking out 1.3160 to print a fresh swing low at 1.3141. The slide tracks USD exceptionalism against UK political/data softness — missed flash PMIs and a dovish BoE — and RSI sits oversold as price stalls near 1.3188. ATR(14) is compressed around 28 pips, with US Core PCE due today the immediate catalyst.
Support: 1.31415, 1.3110, 1.3000
Resistance: 1.32218, 1.3235, 1.3250
What it said to watch
US Core PCE today 12:30 GMT is the immediate driver and can break this range
Loss of 1.3141 swing low opens 1.3110 then the 1.30 zone
H4 close above 1.3235 would neutralise the lower-high structure
09:01 UTC
Downtrend, oversold · RSI 41 · price 1.3188
Lower highs, lower lows.
Cable remains in a clean H4 downtrend, printing successive lower highs and lower lows since the mid-month roll-over from 1.3460, with price now pinned near the 1.3140 swing low. The leg lower reflects compounding UK weakness — soft flash PMIs and a dovish BoE — against broad USD strength into today's Core PCE. RSI is oversold and the slide is shallowing just above 1.3160, but rallies have been sold against the descending trendline.
Support: 1.31399, 1.3160, 1.3110
Resistance: 1.3235
What it said to watch
H4 close below 1.3160 opens 1.3110 then the 1.30 zone
Bounces into 1.3235 — area to watch for rejection or break
US Core PCE today 12:30 GMT could materially shift this read
Cable remains in a clean H4 downtrend, printing lower highs and lower lows from the 1.346 mid-month peak as dovish BoE signalling and sub-50 UK PMIs meet a firm USD. Price has stalled around 1.316-1.318 after tagging a 1.3141 swing low, with RSI lifting off oversold but still sub-40. Both EMAs cap from above, and ATR(14) shows the move still has range.
Support: 1.31415, 1.3110, 1.3000
Resistance: 1.3225
What it said to watch
H4 close below 1.3141 confirms continuation toward 1.3110 then 1.30
Reclaim of 1.3225 would break the sequence of lower highs
US PCE Thursday is the dominant USD catalyst and could reshape this read
Cable remains in a clean H4 downtrend, carving lower highs and lower lows as dovish BoE signalling and sub-50 UK PMIs meet broad USD strength. Price is grinding along the 1.3140 swing low after rejection from the 1.3235 resistance band, with both EMAs sloping down overhead. RSI near 40 shows the slide is stretched but not yet reversing.
Support: 1.3160, 1.3140, 1.3110
Resistance: 1.3235
What it said to watch
H4 close below 1.3140 confirms continuation toward 1.3110
Reclaim of 1.3235 would break the lower-high sequence
US PCE Thursday is the dominant near-term catalyst for this read
Cable remains in a clean descending channel, carving lower highs and lower lows since the 1.3460 area as weak UK PMIs and political risk meet broad USD strength. Price is pinned on the 1.3160 major support after the latest leg lower, with the 1.3140 swing low just beneath. ATR holding near 48 pips keeps the move orderly rather than capitulatory.
Support: 1.3160, 1.3140, 1.3110
Resistance: 1.3235, 1.3460
What it said to watch
H4 close below 1.3160 opens the path toward 1.3110
Reclaim of 1.3235 would challenge the lower-high structure
US PCE Thu (~12h) is the dominant catalyst and could shift this read
Cable remains in a clean H4 downtrend, carving lower highs and lower lows from the 1.3460 area down to the 1.3140 swing low as weak UK PMIs, political instability and broad USD strength weigh. Price is pinned near the 1.3160 major support with both EMAs sloping lower above price; the latest bounces have stalled into descending resistance. ATR has cooled off the selloff peak, suggesting consolidation just above the lows.
Support: 1.3160, 1.3140, 1.3110
Resistance: 1.3235
What it said to watch
H4 close below 1.3140 confirms a fresh lower-low and opens the 1.3110 downside target
Failure to reclaim 1.3235 keeps the lower-high structure intact
US PCE in ~12h is the dominant near-term catalyst and could shift this read