Cable based twice near the 1.3140 week low mid-window and bounced back above 1.3200 as the post-PCE USD rally faltered and oil slid. The recovery stalled at the 1.32250 week cap, with two NY-session pushes rejected there, and price has since settled into a tight 1.3199–1.3220 range below the week high at 1.32547. RSI(14) sits mid-range near 49 and price is hovering on the EMA20 after holding above the EMA50 through the rebound.
Support: 1.3184, 1.3155, 1.3140
Resistance: 1.3225, 1.32547
What it said to watch
H1 close above 1.32250 week cap would neutralise the bearish structure and open the 1.32547 week high
Failure to hold the 1.31840 swing low reopens the 1.31550 prior low and 1.31400 week low
UK GDP Tue 06:00 UTC could materially shift this read
Recovery from 7-month low, consolidating sub-EMA20.
Cable carved a 7-month low near 1.3142 on Thursday before a two-day rebound back toward 1.3200 as the USD slipped post Core-PCE and oil eased. Price stalled at 1.3232 and has since coiled around 1.3200, holding above EMA(50) but slipping back under EMA(20) with RSI flat near the midline. The bounce remains corrective against the broader downtrend, with 1.3232/1.3245 capping.
Support: 1.3155, 1.3142
Resistance: 1.3232, 1.3245
What it said to watch
UK GDP Tue 06:00 UTC could materially shift this read
H1 close above 1.3245 cap zone neutralises the bearish structure
Loss of 1.3155 swing low reopens the 1.3142 week low
Higher lows since midweek base, capped near 1.3232.
Cable carved a base near the 1.3140 YTD low midweek and has put in a second up day above 1.3200 as the USD rally faltered post-PCE. The recovery printed higher lows into 1.3232, where supply capped the latest push, and price has since drifted back to the 1.3200 round number sitting on its EMA(20). RSI(14) has cooled to neutral after the bounce, reflecting the stall rather than fresh weakness.
Support: 1.3170, 1.3140, 1.3110
Resistance: 1.3232, 1.3245
What it said to watch
H1 close above 1.3245 negates the broader bearish read
Failure to hold 1.3170 reopens the 1.3140 YTD low
UK GDP Tue 06:00 UTC could materially shift this read
Cable has climbed for a second day off the 1.3140 YTD low, trading back above 1.3200 as the USD rally faltered after a benign US PCE print. The push into the NY session yesterday stalled at 1.3232, with the pullback parking price right on the H1 EMA(20) and RSI(14) cooling toward the mid-50s. Higher lows remain intact but the broader move is still a recovery into prior supply.
Support: 1.3197, 1.3140
Resistance: 1.3232, 1.3245
What it said to watch
H1 close above 1.3245 negates the broader bearish read
Failure to hold 1.3197 reopens 1.3140 YTD low
UK GDP Tue 06:00 UTC could materially shift this read
18:01 UTC
Downtrend, rebound off lows · RSI 54 · price 1.32051
Higher lows since midweek base near 1.3140.
Cable based near the 1.3140 YTD low midweek and has ground higher since, lifted into the NY session by a softer USD after benign US PCE. Price holds above EMA20 and EMA50 with RSI cycling around the mid-50s, but the 1.3232 recent high capped the latest push and the broader move sits at the 50% fib (1.3197) of the week's drop from 1.3255. Higher lows are intact while the rebound stays above 1.3197.
Support: 1.3197, 1.3140
Resistance: 1.3232, 1.3245
What it said to watch
UK GDP Tue 30 Jun 06:00 UTC could materially shift this read
Close above 1.3245 key cap negates the bearish 1-3wk structure
Failure to hold 1.3197 fib 50% reopens the 1.3140 ytd low
Higher lows off 1.3140 base, stalling into 1.3232.
Cable carved a base around the 1.3140 YTD low through midweek and has clawed back above 1.3200 as the USD rally faltered after a benign US PCE print. Higher lows have built since Wednesday with price holding above EMA20 and EMA50, but the bounce stalled into 1.3232 ahead of the pivotal 1.3245 cap. RSI(14) is cycling mid-range, reflecting fading upside momentum into this latest pullback.
Support: 1.3197, 1.3155, 1.3140
Resistance: 1.3232, 1.3245
What it said to watch
Hourly close above 1.3245 negates the broader bearish read
Loss of 1.3197 EMA20 and 1.3155 swing low reopens the 1.3140 YTD low
BoE Pill (Mon) and UK GDP (Tue 06:00 UTC) could reshape this read
17:01 UTC
Recovery off lows, capped near range top · RSI 58 · price 1.32187
Base near 1.3140, higher lows into resistance.
Cable carved a base near 1.3140 mid-week after the politically-driven slide on the Starmer resignation and weak UK PMIs, then clawed back above EMA(20) into the NY session, now pressing 1.3232. Softer US PCE has trimmed the dollar bid, giving the recovery room, but the 1.3245 weekly-open area has repeatedly capped rebounds this week. RSI(14) sits mid-50s, consistent with a grinding recovery rather than an impulse.
Support: 1.3197, 1.3140
Resistance: 1.32317, 1.3245
What it said to watch
H1 close above 1.3245 would neutralise the week's bearish structure
Loss of 1.3197/EMA20 reopens the 1.3140 7-month low
UK GDP Tue 06:00 UTC could materially shift this read
Basing above weekly lows after lower-high sequence.
Cable carved a double bottom near 1.3140 mid-week then ground back above both EMAs, recovering toward 1.3230 as a softer USD post-PCE offered the only tailwind. The recovery lacks conviction — UK political uncertainty kept gains capped, and the latest NY session probed 1.3232 before fading back to 1.3219. RSI(14) cycling mid-50s confirms momentum has shifted off the lows without overextending.
Support: 1.3197, 1.3141, 1.3110
Resistance: 1.32317, 1.3245
What it said to watch
H1 close above 1.32450 (week open) needed to neutralise the broader lower-high sequence
Loss of 1.31970 intraday low reopens the 1.3141 week low
UK GDP Tue 06:00 UTC could materially shift this read
Higher lows since Wednesday's base, within weekly range.
Cable based twice near 1.3140 mid-week and has ground higher since, reclaiming 1.3200 and tagging 1.3232 in the NY session — a USD-easing relief bounce after the in-line Core PCE softened July hike odds. Price holds above EMA20 and EMA50 with RSI cycling in the mid-50s; the move still sits inside the 1.3160–1.3245 working range.
Support: 1.3200, 1.3155, 1.3140
Resistance: 1.3232, 1.3245
What it said to watch
Close above 1.3245 needed to clear the range top and extend the bounce
Loss of 1.3155 swing low reopens the 1.3140 week low
UK GDP Tue 06:00 GMT could materially shift this read
Cable clawed back from seven-month lows near 1.3140 through midweek as the USD eased post-PCE, posting a sequence of higher lows. Two pushes into 1.3232 have been sold, with the latest hour rejecting from 1.32317 back toward EMA20. Price now sits between EMA20 and EMA50 with RSI(14) flattening near 50 — the recovery is losing impulse at the range top.
Support: 1.3170, 1.3140
Resistance: 1.3232, 1.3245
What it said to watch
H1 close above 1.3245 needed to neutralise the bearish weekly bias
Failure to hold 1.3170 reopens the 1.3140 week low
UK GDP Tue 06:00 GMT could materially shift this read
Cable bottomed near 1.3142 mid-week and ground higher into NY hours yesterday, tagging 1.3232 before a sharp rejection knocked it back below EMA20 around 1.3200. The bounce coincided with a softer dollar after the in-line US Core PCE print, but UK political uncertainty keeps rebounds capped, with 1.3245 the line the digest flags. RSI(14) sits near 48, neutral after the pullback.
Support: 1.3142, 1.3160
Resistance: 1.3232, 1.3245
What it said to watch
H1 close above 1.3245 invalidates the capped-rebound read
Failure to hold 1.3142 confirms a fresh lower low toward 1.31
UK GDP Tue 06:00 UTC could materially shift this read
Cable has clawed back from this week's 1.3140 low, grinding higher through the NY session as the dollar eased after an in-line US Core PCE print. Price holds above both EMA20 and EMA50 with RSI mid-60s, and the rebound has built a clean sequence of higher lows. The 1.3245 area has capped rebounds repeatedly this week and remains the immediate ceiling overhead.
Support: 1.3200, 1.3160, 1.3140
Resistance: 1.3228, 1.3245
What it said to watch
H1 close above 1.3245 opens room toward 1.3250+
Loss of 1.3200 reopens 1.3160 then the 1.3140 week low
UK GDP Tue 06:00 UTC could materially shift this read
14:01 UTC
Recovery off lows, momentum building · RSI 63 · price 1.32254
Higher lows since mid-week base.
GBPUSD has clawed back from 7-month lows near 1.3140 with a double-bottom base, posting a second day of mild gains driven by a softer USD after in-line US core PCE rather than Sterling strength. Price sits above EMA20 and EMA50 with RSI(14) near 63, now pressing the session high at 1.3229 ahead of the 1.3245 cap. The 1.3200 round number has flipped to near-term support on the latest leg up.
Support: 1.3200, 1.3140, 1.3110
Resistance: 1.3229, 1.3245
What it said to watch
Close above 1.3245 cap needed to negate the broader bearish read
Loss of 1.3200 round number reopens the 1.3140 week low
UK GDP Tue is the key catalyst that could shift this read
Higher lows since Wednesday's base, capped under 1.3228.
Cable based near 1.3140 — fresh 7-month lows on the UK political vacuum — and has clawed back above EMA20 through the NY session, helped by a softer USD after in-line core PCE. The recovery stalled at 1.32283 and is pulling back into 1.3210, with RSI(14) cycling mid-range rather than extending. Holding above 1.3200 keeps the higher-low sequence intact.
Support: 1.3200, 1.31399
Resistance: 1.32283, 1.3245
What it said to watch
Failure to hold 1.3200/EMA20 reopens the 1.31399 week low
H1 close above 1.32283 extends the recovery toward the 1.3245 cap
UK GDP Tue 06:00 UTC is the key catalyst that can shift this read
Higher lows since mid-week trough, capped under 1.3228.
Cable was crushed to 7-month lows near 1.3140 earlier this week on UK political risk, but the last two sessions clawed back a 50%+ retrace of that decline, driven mostly by a softer USD after in-line US core PCE rather than Sterling strength. Price holds above EMA(20) with a double bottom around 1.3140–1.3150, though the latest NY bars stalled into 1.3228 and have pulled back toward 1.3210. RSI(14) cycling mid-range reflects the fading impulse.
Support: 1.3199, 1.31399, 1.3110
Resistance: 1.32283, 1.3245
What it said to watch
Close above 1.3245 supply cap would negate the bearish multi-week read
Loss of EMA20 / 1.3199 reopens the 1.3140 week low
UK GDP Tue 06:00 UTC is the key catalyst and could reset this read
Cable based out near 1.3140 mid-week — fresh 7-month lows on UK political risk — and has clawed back through the NY session, printing higher lows and now holding above both EMA20 and EMA50. The lift is largely a softer USD story after in-line US core PCE rather than Sterling strength; RSI has cycled up off oversold to the low-60s. Resistance at 1.3228 has capped the latest push, with the 1.3245 weekly cap still above.
Support: 1.3155, 1.3140, 1.3200
Resistance: 1.3228, 1.3245
What it said to watch
H1 close above 1.3245 negates the broader bearish read
Failure to hold 1.3155 reopens the 1.3140 week low
UK GDP Tue 06:00 UTC is the key catalyst for this pair
US Michigan sentiment 14:00 UTC could shift the USD leg of the move
Cable carved a base near 1.3140 — this week's 7-month low — and has recovered toward 1.3220 as the dollar faded on an in-line US core PCE print. Price trades above EMA20 with higher lows since the NY-session bounce and RSI cycling into the mid-50s. The wk high at 1.3228 has capped the rebound, with 1.3245 the next resistance overhead.
Support: 1.3196, 1.3160, 1.3140
Resistance: 1.3228, 1.3245
What it said to watch
H1 close above 1.3228 wk high opens 1.3245 resistance
Failure to hold 1.3160 swing low re-exposes the 1.3140 7-mo low, then 1.3110
UK GDP Tue 06:00 UTC could materially shift this read
12:01 UTC
Recovery off lows, momentum building · RSI 64 · price 1.3222
Base formed near 1.3140, rising lows since.
Cable carved a base around the 1.3140 7-month low across the back half of the week and has clawed back to 1.3222, trading above both EMA20 and EMA50 with RSI(14) cycling up through 60. The bounce tracks a fading USD after an in-line Core PCE print and a market-friendly read on the Burnham succession. The recent swing high at 1.3228 is the immediate cap, with 1.3245 the next this-week resistance.
Support: 1.3198, 1.3160, 1.3140
Resistance: 1.3228, 1.3245, 1.3265
What it said to watch
H1 close above 1.3245 opens the path toward the 1.3265 rebound cap
Failure to hold 1.3160 support revives the lower-low theme back toward the 1.3140 low
UK GDP Tue 30 Jun 06:00 UTC could materially shift this read
11:01 UTC
Recovery off lows, momentum building · RSI 64 · price 1.3222
Higher lows off the 1.3140 base.
Cable has clawed back from the multi-month low near 1.3140 to 1.3222, with the rebound accelerating through Thursday-Friday as USD longs faded after an in-line Core PCE and Burnham succession relief steadied GBP. Price now sits above both EMA20 and EMA50, having traced a double bottom around 1.3140 and a series of higher lows. The 1.3245 area, which capped earlier rebounds, is the next test — current price aligns with the 61.8% retrace of the week's decline.
Support: 1.3197, 1.3160, 1.3140
Resistance: 1.3245, 1.3273
What it said to watch
H1 close above 1.3245 cap would neutralise the bearish setup toward the 1.3273 week high
Failure to hold EMA20/1.3160 reopens the 1.3140 week low
UK GDP Tue 06:00 UTC could materially shift this read
11:01 UTC
Recovery off week lows, momentum building · RSI 61 · price 1.32195
Higher lows since the 1.3140 base.
Cable based twice near 1.3140 mid-week and has clawed back above EMA20 and EMA50 through the NY session, with RSI(14) holding the 55-62 band on pullbacks. The recovery tracks the digest's read of fading USD longs and the Burnham relief bid after multi-month lows. Resistance at 1.3245 has yet to be tested; the 1.3228 session high is the immediate cap.
Support: 1.3200, 1.3160, 1.3140
Resistance: 1.3228, 1.3245
What it said to watch
Sustained hold of the 1.3200 pivot keeps the higher-low structure intact; failure back toward 1.3160/1.3140 negates it
H1 close above 1.3245 would neutralise the prior downtrend cap
UK GDP Tue 06:00 UTC could materially shift this read
10:01 UTC
Recovering off week lows, momentum building · RSI 60 · price 1.32195
Bounce from multi-month low, higher lows forming.
Cable has clawed back from seven-month lows near 1.3140 to 1.3220 into the NY session Friday, as USD longs faded after in-line Core PCE and the Burnham succession eased the UK political risk premium. Price now sits above EMA20 and EMA50 with RSI(14) recovering toward 60; the 1.3140/1.3155 base held twice this week. Resistance at 1.3245/1.3250 remains the cap that has framed the recent decline.
Support: 1.3196, 1.3155, 1.3140
Resistance: 1.3228, 1.3245
What it said to watch
H1 close above 1.3245 neutralises the bearish week structure toward 1.3265
Failure to hold the 1.3196 EMA20 risks a slide back to 1.3155 swing low then 1.3140 week low
UK GDP Tue 06:00 UTC could materially reshape this read
Cable carved a seven-month low near 1.3140 mid-week before recovering through the NY session back to 1.3214, now holding above EMA20 with RSI(14) cycling back above 50. The bounce tracks the digest read of faded dollar longs and Burnham-relief flows; the move retraces roughly 60% of the slide from this week's high at 1.3272. Resistance into 1.3245 still caps the rebound, with the recent high at 1.3222 the first hurdle.
Support: 1.3186, 1.3140, 1.3110
Resistance: 1.3222, 1.3245, 1.3272
What it said to watch
H1 close above 1.3245 cap needed to neutralise the week's downtrend
Failure to hold 1.3186 swing low reopens the 1.3140 week low, then 1.3110 downside tgt
UK GDP Tue 06:00 UTC could materially shift this read
Two-day bounce off 7-month low within bearish weekly structure.
Cable carved a 7-month low at 1.3140 midweek on soft UK PMIs and political risk, then mounted a two-day recovery that has retraced roughly half the decline back to 1.3214. Price now sits above EMA20 with RSI(14) cycling up off oversold, and the rebound high at 1.3222 marks the immediate ceiling. The 1.3245 cap has repeatedly capped rebounds this week, keeping the recovery contained.
Support: 1.3196, 1.3155, 1.3140
Resistance: 1.3222, 1.3245
What it said to watch
H1 close above 1.3245 rebound cap needed to extend the recovery toward 1.3265
Failure to hold 1.3155 swing low reopens the 1.3140 7-month low
UK GDP Tue 30 Jun 06:00 UTC is the key domestic catalyst that could shift this read
Higher low off 1.3140, consolidating under 1.3220.
Cable carved a higher low after rebounding off the 7-mo low at 1.3140, with the second low near 1.3151 printing a bullish RSI divergence and lifting price back above EMA20/EMA50. The recovery stalled into 1.3219 (week high) and now consolidates around 1.3205; context notes rebounds toward the 1.3245 cap have repeatedly been sold amid the UK political vacuum and a firm USD post-PCE.
Support: 1.3184, 1.3140
Resistance: 1.3219, 1.3245
What it said to watch
Loss of 1.3184 swing low reopens the 1.3140 7-mo low and 1.3110 below
Hourly close above 1.3219 week high targets the 1.3245 sold cap
UK GDP Tue 06:00 UTC is the key domestic catalyst for this read
Double bottom near 1.3140, consolidating below resistance.
Cable fell from Monday's 1.3273 high to print fresh seven-month lows near 1.3140, where buyers stepped in twice to form a double bottom. The rebound into the NY session lifted price back above EMA(20) to consolidate 1.3190-1.3205, with 1.3219 and the well-flagged 1.3245 cap still containing rebounds after USD longs were trimmed into in-line US Core PCE. RSI(14) has recovered toward 54 off oversold but momentum is shallow.
Support: 1.3197, 1.3155, 1.3140
Resistance: 1.3219, 1.3245
What it said to watch
H1 close above 1.3219 opens the 1.3245 cap
Failure to hold 1.3155 reopens the 1.3140 week low
Michigan sentiment / inflation expectations at 14:00 UTC could shift the USD read
08:01 UTC
Downtrend, basing after bounce · RSI 49 · price 1.31939
Consolidating above week low, rebounds capped.
Cable sold from Monday's 1.3273 high to fresh week lows near 1.3140 mid-week, with the slide reflecting UK political risk and contraction-zone PMIs against a firm Dollar. A twin low around 1.3140 sparked a bounce to 1.3219 — near the 61.8% retracement of the week drop — before stalling; price now consolidates around 1.319, hovering on EMA20 but holding above EMA50. The 1.3245 area continues to cap rebounds, consistent with the broader read of oversold-but-contained Sterling.
Support: 1.3180, 1.3140, 1.3110
Resistance: 1.3219, 1.3245, 1.3273
What it said to watch
Close below 1.3140 confirms a lower-low and exposes the 1.3110 area
Reclaim of 1.3219 needed to challenge the 1.3245 cap
US UoM sentiment/inflation expectations at 14:00 UTC could shift the read
07:01 UTC
Downtrend this week, now consolidating · RSI 49 · price 1.31939
Range near lows after double bottom.
Cable slid to seven-month lows near 1.3140 mid-week on UK political risk and a firm USD after Core PCE, then bounced to 1.3220 before settling around 1.3194. A double bottom at 1.3140 has held, leaving price boxed between that floor and the 1.3220 bounce high. RSI sits mid-range and price is pinned to its EMA20 while holding above EMA50.
Support: 1.3160, 1.3140
Resistance: 1.3220, 1.3245
What it said to watch
H1 close below 1.3140 confirms a lower-low, exposing 1.3110
Close above 1.3220 then 1.3245 invalidates the range-cap read
UK GDP Tue 06:00 UTC could materially shift this read
Cable sold off into the 1.3140 area midweek on the UK leadership vacuum and a firm Dollar after hot US Core PCE, before basing and grinding back to retest 1.3200. Price holds above EMA20/EMA50 with RSI(14) cycling around the mid-50s, but the prior high at 1.32189 has capped the recovery and the broader 1.3245 ceiling remains untouched. Last NY-into-Asia hours have been a tight consolidation just under 1.3210.
Support: 1.31801, 1.3140
Resistance: 1.32189, 1.3245
What it said to watch
H1 close above 1.32189 opens the path to the 1.3245 cap
Failure to hold 1.31801 reopens the 1.3140 week low
UK GDP Tue 06:00 UTC is the key catalyst that could reframe this read
Bounce off seven-month low, consolidating below cap.
Cable sold off through midweek to a seven-month low near 1.3140 as UK PMIs disappointed, then carved a double bottom and recovered back to 1.3200. The lift came on dollar profit-taking after an in-line US Core PCE, not fresh GBP strength, and price is now flat-lining just above EMA20 with RSI(14) back to neutral around 54. The 1.3220 prior-day high and the 1.3245 weekly cap remain unbroken.
Support: 1.3193, 1.3151, 1.3140
Resistance: 1.32189, 1.3247
What it said to watch
UK GDP Tue 06:00 UTC is the key swing factor for this read
H1 close above 1.32189 opens the 1.3247 weekly cap
Failure to hold 1.3151 reopens the 1.3140 seven-month low
US Michigan inflation expectations 14:00 UTC could shift the USD leg
Cable slid to a 1.3140 seven-month low mid-week as UK PMIs disappointed, then short-covering — helped by a stalling dollar after in-line US Core PCE — lifted it back to the 1.3200 round number. Price has reclaimed EMA20 and EMA50 with RSI(14) recovered to the mid-50s after basing around 1.3140/1.3151. The 1.3245 rebound cap remains the structural ceiling on this week's bounces.
Support: 1.3200, 1.3151, 1.3140
Resistance: 1.3219, 1.3245
What it said to watch
Failure to hold 1.3140 7-mo low exposes 1.3110
H1 close above 1.3245 rebound cap needed to extend recovery
US Michigan data + Fed speakers 14:00 UTC could shift the read
05:01 UTC
Downtrend, stabilising off lows · RSI 53 · price 1.31969
Recovering after week-low double bottom.
Cable spent Wednesday into Thursday sliding to 7-month lows near 1.3142 before a Dollar-led bounce post in-line US PCE lifted price back toward 1.3219. Two matching lows around 1.3142/1.3151 mark a double bottom, and the recovery has reclaimed EMA20 with RSI cycling back to the mid-50s. The 1.3245 cap band has limited upside on prior tests this week.
Support: 1.3160, 1.3151, 1.3142
Resistance: 1.3219, 1.3245
What it said to watch
UK Q1 GDP Tue 06:00 GMT could materially shift this read
Loss of 1.3160 pivot reopens the 1.3142 week low and 1.3110 path
H1 close above 1.3245 cap band would extend the recovery
Consolidating above 7-mo low after impulsive drop.
Cable sold off from Monday's 1.3273 high into the 1.3140 7-month low through midweek, then bounced as the Dollar took profit on an in-line US Core PCE print. Price has since carved a 1.3180–1.3219 consolidation just above the EMA20, with RSI(14) recovering to the mid-50s and pullbacks holding higher lows off 1.3140. The 1.3245 cap remains untested on this leg; the 1.3160 pivot has reverted to nearby support.
Support: 1.3160, 1.3140
Resistance: 1.3219, 1.3245
What it said to watch
H1 close above 1.3245 cap would extend the bounce toward 1.3265
Failure to hold the 1.3160 pivot reopens the 1.3140 low, then the 1.3110 area
UK Q1 GDP Tue 06:00 GMT could materially shift this read
Consolidation under EMA20 after recovery off week low.
Cable slid to 7-month lows near 1.3140 midweek before a Dollar-led bounce into the NY session lifted it to 1.32186, where supply capped the move. Price has since drifted back toward the 1.31800 range floor and sits below the EMA20 with RSI(14) in the mid-40s, the recovery losing traction after an in-line US PCE print prompted USD profit-taking. The 1.3160 pivot remains the structural floor for this week's bounce.
Support: 1.3180, 1.3160, 1.31399
Resistance: 1.3190, 1.32186, 1.3245
What it said to watch
H1 close below 1.3160 pivot reopens the 1.3110 downside path
Reclaim of 1.31900 EMA20 needed to re-challenge the 1.32186 wk high
UK Q1 GDP Tue 06:00 GMT is the key catalyst for the range
04:01 UTC
Downtrend, bounce fading · RSI 46 · price 1.31833
Lower highs off Monday peak, double bottom near 1.3140.
Cable has trended lower since Monday's session high near 1.3273, carving lower highs into a double bottom around 1.3140 (the week low). A USD-led bounce into the NY session stalled at 1.3219, and price has since slipped back under the EMA20 near 1.3190, with RSI(14) hovering mid-range. The 1.3160 pivot is the first support area to watch into the next sessions.
Support: 1.3160, 1.3140
Resistance: 1.3190, 1.3219, 1.3245
What it said to watch
Hourly close back above the 1.3190 EMA20 and 1.3219 ny high would neutralise the lower-high sequence
Loss of the 1.3160 pivot exposes the 1.3140 week low and the 1.3110 area below
UK Q1 GDP Tue 06:00 GMT could materially shift this read
03:01 UTC
Downtrend, stabilising after bounce · RSI 51 · price 1.31907
Consolidating above 1.3140 base.
Cable carved a double bottom near 1.3140 — this week's 7-month low — and bounced to 1.3218 as the Dollar gave back ground on profit-taking after the in-line Core PCE print. Price has since settled around 1.3190, stalling right at the 38.2% retrace of the week's decline with RSI(14) recovered from oversold to neutral. The 1.3245 band has capped every rebound and remains the level to watch above.
Support: 1.3160, 1.3140
Resistance: 1.3218, 1.3245
What it said to watch
H1 close below 1.3160 pivot reopens the 1.3140 base, then 1.3110
Reclaim of 1.3218 bounce high would extend the recovery toward 1.3245
UK Q1 GDP Tue 06:00 GMT could materially shift this read
Cable spent the week grinding lower from the 1.3273 region into a 7-month low near 1.3140, where buyers stepped in twice to form a double-bottom base. The Dollar easing post-Core PCE on profit-taking fuelled a bounce to 1.3219 in the NY session, but momentum has stalled and price is now consolidating around the EMA(20) near 1.3190. RSI has lifted back to neutral from oversold, reflecting the recovery rather than fresh trend.
Support: 1.31548, 1.31399
Resistance: 1.32189, 1.3245
What it said to watch
Hourly close below 1.3155 reopens the 1.3140 week low
Sustained move above 1.3219 challenges the 1.3245 rebound cap
UK Q1 GDP Tue 06:00 GMT could materially shift this read
Cable carved a double bottom around 1.3140-1.3151 — the 7-month low region flagged by the digest — and squeezed back into the NY session to tag 1.3219 before fading to the EMA20 near 1.3193. The bounce came as USD longs trimmed ahead of US PCE, with heavy Sterling shorts leaving room for short-covering. RSI(14) has cycled back to neutral around 50 after the bullish divergence into the lows.
Support: 1.3193, 1.3151, 1.3140
Resistance: 1.3219, 1.3245
What it said to watch
H1 close below 1.3140 confirms a lower low, opening 1.3110
Close above 1.3245 needed to neutralize the broader bearish read
UK Q1 GDP (Tue 06:00 UTC) and Bailey (Wed) are key domestic catalysts
Cable carved a double bottom at the 7-month low ~1.3140 and squeezed into the NY session to 1.3219, partly a USD-long trim after in-line US PCE and a market-friendly Burnham succession read. Price has since faded to consolidate near 1.3190, sitting just above EMA20 and well above EMA50 with RSI(14) mid-range. The 1.3219 rebound high caps the recovery while the 1.3187 swing low marks the first crack in the higher-low sequence.
Support: 1.31867, 1.3155, 1.31399
Resistance: 1.32186, 1.3245
What it said to watch
H1 close above 1.3219 opens the path to 1.3245 resistance
Failure to hold 1.3187 reopens 1.3155 then the 1.3140 low
UK Q1 GDP Tue 06:00 UTC is the key domestic catalyst for this read
Cable sold off Tuesday on the PMI miss (Services 48.7) and the Starmer resignation, printing a 7-month low near 1.3140 before a NY-session bounce — USD longs trimmed into the in-line PCE — carried it back to 1.3219. That recovery has stalled at the 38.2% retracement of the weekly decline, with price slipping back below EMA(20) and RSI flattening near 48.
Support: 1.3155, 1.31399
Resistance: 1.32189, 1.3247
What it said to watch
Hourly close below 1.3140 confirms the lower-low and opens the 1.30 area
Reclaim of 1.32189 would extend the bounce toward the 1.3247 shelf
UK GDP Tue 06:00 GMT is the next high-impact catalyst for this read
Cable carved a 7-month low near 1.3140 midweek after the Starmer resignation shock and contractionary UK PMIs, then squeezed back to 1.32186 into the NY session as USD longs were trimmed around the in-line US PCE. That rebound has stalled and price is now grinding back to the EMA20 around 1.3188 with RSI(14) hovering near 50, leaving the week's lower-high structure intact below 1.3220.
Support: 1.3155, 1.31399
Resistance: 1.32186, 1.32475
What it said to watch
H1 close above 1.32186 then 1.32475 would extend the bounce and challenge the lower-high structure
Loss of 1.31550 reopens the 1.31399 7-mo low and the 1.30 area flagged in the digest
UK GDP Tue 06:00 GMT is the next high-impact catalyst and could reset this read
Cable slid to a 7-month low near 1.3140 mid-week as the contractionary UK PMIs and the Starmer-resignation shock kept it pinned, then squeezed back toward 1.3215 into the NY session as USD longs were trimmed ahead of US PCE. Price has since stalled around 1.3193, holding above a recovering EMA(20) but capped under EMA(50), with RSI(14) cycling back to neutral after the oversold dip. The 1.3140 base held on a bullish RSI divergence; range remains intact between there and the 1.3219 NY high.
Support: 1.3140, 1.3155
Resistance: 1.3219, 1.3245
What it said to watch
UK GDP Tue 06:00 GMT is the next high-impact catalyst and could break this range
H1 close above 1.3219 opens the 1.3245 resistance zone
Failure to hold 1.3140 confirms a fresh lower-low toward 1.3110
Cable opened the week near 1.3207 and slid to a 7-month low at 1.3140 after Monday's Starmer-resignation shock and Tuesday's contractionary UK PMIs. NY hours yesterday drove a recovery to 1.3219 as USD longs were trimmed into US PCE, but price has since faded back to the EMA20 around 1.3193. RSI(14) has unwound from oversold to mid-range, and the bounce is stalling beneath the 1.3245/65 supply zone flagged all week.
Support: 1.3155, 1.3140, 1.3110
Resistance: 1.3219, 1.3245, 1.3265
What it said to watch
H1 close above 1.3219 reopens the 1.3245/1.3265 cap zone
Loss of 1.3155 then 1.3140 confirms a lower low toward 1.3110
UK GDP Tue 06:00 GMT is the next high-impact catalyst for this read