21:01 UTC
Downtrend, momentum slowing near lows · RSI 41 · price 1.31921
Lower highs / lower lows since mid-June breakdown.
Cable broke down in mid-June from its multi-week 1.3400–1.3650 range, sliding to YTD lows near 1.3140 as the UK political vacuum (Starmer out, Burnham incoming) and soft PMIs undercut the hawkish BoE. Price trades below a rolling EMA(50), confirming the swing-trend lower. The last few sessions have stabilised just above 1.3140 with 1.3245 capping rebounds.
Support: 1.3140, 1.3110, 1.3000
Resistance: 1.3245, 1.3400
What it said to watch
- D1 close below 1.3140 confirms a fresh lower-low and opens 1.3110 then 1.30
- Reclaim of 1.3245 needed to neutralise the bearish structure
- UK GDP Tue 30 Jun could materially shift this read