Cable carved a double bottom near 1.3368 on Wednesday and impulsed through 1.3480 during yesterday's NY session on the Trump Hormuz blockade headlines, tagging 1.3485 before fading. Price has since rolled back to the session low at 1.3455 and is consolidating into the Friday close, holding above EMA20 with RSI midline. The week is set to finish little changed despite the volatility.
Support: 1.3455, 1.34294, 1.33683
Resistance: 1.34805, 1.35057
What it said to watch
An H1 close back below 1.3455 session low reopens the 1.3429 h1 swing low
Reclaim of 1.3480 spike high needed to retest the 1.3505 week open
Iran-US deal headline risk over the weekend could gap Monday's open
Lower highs into 1.3368 low, sharp recovery off the base.
Price has sold off from Monday's 1.3509 week open down to a 1.3368 week low during the NY session yesterday, before a sharp impulse through the London-NY transition today pushed back to 1.3480. The spike high at 1.34805 was rejected and price has slipped back to session lows around 1.3455, with RSI(14) easing from 70 to mid-range. Recovery comes despite hawkish Bailey comments and Bowman flagging stalled disinflation, leaving the broader downtrend structure intact while a short-term base forms.
Support: 1.3455, 1.34112, 1.33683
Resistance: 1.34805, 1.3508, 1.3509
What it said to watch
H1 close above 1.34805 spike high would extend the corrective leg toward 1.3508 week open
Loss of 1.3455 session low reopens 1.34112 prior low
Iran-US headline flow remains a key tail risk for USD into the weekend
Lower-lows since Monday, NY session reversal off 1.3408.
Price has spent the week grinding lower from 1.3509 into a 1.3368 swing low, but the NY session today produced a sharp recovery off 1.3408 with a 50-pip impulse bar reclaiming both EMAs. RSI(14) lifted from oversold into the low-60s as price tagged 1.3485 session high before a modest pullback, aided by Bailey's hawkish comments earlier in the session. The bounce off 1.3408 mirrors the 1.3368 low, forming a tentative double bottom on the week's range floor.
Support: 1.34294, 1.34083, 1.33683
Resistance: 1.34851, 1.3509, 1.35078
What it said to watch
H1 close back below 1.3408 negates the double bottom read
Reclaim of 1.3509 week open would unwind the week's downtrend
Headlines around US-Iran negotiations remain a tape risk into the weekend
17:00 UTC
Downtrend recovering, sharp reversal in NY · RSI 67 · price 1.34754
Lower-highs broken by impulsive NY rally off 1.3408.
Price spent most of the week grinding lower from 1.3507 into a 1.3368 week low set during Wednesday's NY session, before basing around 1.3410 and ripping higher in today's NY hours on the Trump blockade-lift headline. The impulsive move through 1.3450 reclaimed both EMAs and printed a session high at 1.3485, with RSI(14) pushing to 67 after a clean bullish divergence at the lows. Structure has shifted from lower-highs to a fresh higher-low base, though price is now stalling just under the week high.
Support: 1.3447, 1.3408, 1.3368
Resistance: 1.3485, 1.3507
What it said to watch
H1 close back below the ema20 around 1.3447 would neutralise the NY reversal
Break and hold above the 1.3485 session high opens room toward the 1.3507 week high
Ongoing Iran/US headline flow remains the dominant driver and can reprice the read on any single bar
Lower highs into 1.3368 sweep, sharp recovery underway.
Price has trended lower since Monday's open near 1.3508, carving lower highs through the London and NY sessions before sweeping the week low at 1.3368 during Thursday's NY hours. The current NY session has delivered a sharp recovery off 1.3408, reclaiming both EMA(20) and EMA(50) and pushing RSI(14) to 68 — a bullish divergence prints against the lower price low. Bailey's hawkish tone earlier today is the catalyst cited for GBP support into the close.
Support: 1.3438, 1.3368, 1.3408
Resistance: 1.3481, 1.3508, 1.3458
What it said to watch
H1 close back below EMA(50) near 1.3458 reopens the 1.3408 intraday low
Acceptance above 1.3481 session high exposes the 1.3508 weekly open
Failure to hold 1.3438 prior pivot reinstates the lower-high sequence
Iran/Trump headline risk over weekend gap could override structure
15:00 UTC
Downtrend, attempting base · RSI 47 · price 1.34394
Lower highs into 1.3400 support sweep, basing.
GBPUSD has trended lower since Monday's 1.3509 week open, with successive lower highs through the London and NY sessions on Wednesday and Thursday, bottoming at 1.33683 (week low). Price reclaimed EMA20 overnight after a double bottom around 1.3408–1.3417, and is now consolidating mid-range with RSI(14) recovering through 47 — a bullish divergence against the lower price low. Bailey's hawkish tone and Fed Bowman flagging stalled inflation progress have left the pair caught between offsetting hawkish signals.
Support: 1.34083, 1.33683, 1.33972
Resistance: 1.34508, 1.34578, 1.3509
What it said to watch
Hourly close above NY high 1.34508 opens path back toward week open 1.3509
Loss of session low 1.34083 reopens the week low at 1.33683
Failure to hold EMA20 reasserts the downtrend structure
Cable has been grinding lower since Monday's open near 1.3505, printing successive lower highs into Thursday's NY session low at 1.3368. Price reclaimed 1.3400 after a softer set of US prints (weaker wholesale inventories, narrower goods trade deficit) but stalled into 1.3450 resistance and is now consolidating below the EMA(20) with RSI(14) flatlining mid-40s.
Support: 1.34083, 1.33683
Resistance: 1.34508, 1.34893, 1.3509
What it said to watch
H1 close above 1.34508 prior high would break the lower-highs sequence
Loss of 1.34083 wk low reopens the 1.33683 swing low
Soft German CPI today reinforces broader USD-cross divergence theme
GBPUSD has traded heavy since Tuesday's London session, printing successive lower highs from 1.3508 down to the 1.3370 week low before bouncing into the NY session yesterday. Today's NY hours have rejected the 1.3445 area twice and price is now retesting the 1.3410 session low, with RSI(14) cycling around 40 and price capped below both H1 EMAs. Soft German CPI and a weak Canadian GDP print have kept USD bid while BoE Bailey's cautious tone weighs on sterling.
Support: 1.3408, 1.3368, 1.3389
Resistance: 1.3445, 1.3458, 1.3489
What it said to watch
H1 close above 1.3458 swing high would break the lower-high sequence
Loss of 1.3408 session low opens path back to the 1.3368 week low
Sustained reclaim of EMA20 near 1.3445 needed to neutralise the downtrend read
Lower highs from 1.3508 weekly open, holding below EMA20.
Cable has trended lower since Monday's 1.3508 open, printing a series of lower highs with each NY session driving the dominant leg down. Friday's London session rejected at 1.3450 below the EMA20 and price is now retesting the 1.3410 area after Bailey's comments on Middle East risk weighed on GBP. RSI at 38 reflects sustained downside pressure without yet reaching oversold.
Support: 1.34083, 1.33683, 1.33972
Resistance: 1.34508, 1.34578, 1.3509
What it said to watch
H1 close above 1.3458 would break the lower-high sequence
Loss of 1.3408 session low opens path to 1.3368 week low
Reclaim of EMA20 around 1.3430 needed to neutralise the downside read
Lower highs from 1.3509 weekly open, range forming above 1.3370.
Cable has bled lower from Monday's 1.3509 open, printing a week low at 1.3368 during Thursday's NY session before recovering into a 1.3408–1.3508 range. Today's London session has rejected back below the 20-EMA after a failed test toward 1.3450, with Bailey's BoE comments on monitoring Middle East risk weighing on GBP. RSI cycling 35–55 confirms sellers in control without being oversold.
Support: 1.34083, 1.33683, 1.33972
Resistance: 1.34508, 1.34689, 1.3509
What it said to watch
Hourly close below 1.3408 session low opens path back to 1.3368 week low
Reclaim of 1.3450 prior high needed to neutralise the lower-high sequence
Further BoE commentary on Middle East / inflation tradeoff could shift the read
Lower highs since Monday's open, defending mid-1.3400s.
GBPUSD has been grinding lower since Monday's open near 1.3493, printing successive lower highs with the week low at 1.3368 set during yesterday's NY session. Wednesday's bounce capped at the 1.3450–1.3458 prior high zone and price has rolled over again into today's London session, now retesting the 1.3408 session low with RSI rebuilding bearish momentum after Bailey's hawkish-hold comments did little to lift sterling.
Support: 1.34083, 1.3395, 1.33683
Resistance: 1.34508, 1.34578, 1.3489
What it said to watch
H1 close below 1.34083 session low opens path back to the 1.33683 week low
Reclaim of 1.34508 prior high would break the lower-highs sequence
Continued Middle East risk-off commentary from BoE could reinforce the downside read
09:00 UTC
Downtrend, attempting base · RSI 42 · price 1.34236
Lower highs into 1.3400 floor, basing attempt.
Cable has been in a stepped downtrend since Monday's 1.3509 week high, with the NY session two days ago driving the impulse leg into 1.3368. Price built a double bottom near 1.3417 across the last 24 hours and recovered toward 1.3450, but the latest hour rejected back below the 1.3440 area on the German CPI/jobs prints. RSI sits mid-40s and price remains under EMA20 and EMA50.
Support: 1.3417, 1.3368
Resistance: 1.34508, 1.3489, 1.3509
What it said to watch
H1 close back above 1.3450 reopens the path to the 1.3489 wk pivot
Loss of 1.3417 week low exposes the 1.3368 swing low
German national CPI and US PCE later today could shift the read
08:00 UTC
Downtrend, attempting base · RSI 45 · price 1.34363
Lower highs since Tuesday, recovery from 1.3370 low.
Price has stair-stepped lower since Monday's high near 1.3509, accelerating into Thursday's NY session where the week low at 1.3368 printed before a sharp recovery into 1.3450. The Asian session this Friday has stalled below the 1.3450 thu high and is drifting back toward 1.3416 wed swing low, with RSI(14) cycling around 45 and price capped under EMA20.
Support: 1.3416, 1.3368, 1.3397
Resistance: 1.3450, 1.3489, 1.3509
What it said to watch
Hourly close above 1.3450 thu high reopens the path back toward 1.3489 mon high
Loss of 1.3416 wed swing low reasserts the downtrend toward 1.3368 week low
Germany state CPI prints and BoE Bailey speech later today could shift the read
Price rolled over from the 1.3509 week high through Tuesday's NY session, swept the 1.3368 swing low yesterday and snapped back above the EMA20 into the London close. Tone has shifted from impulsive selling to consolidation between the intraday low at 1.3432 and the prior high near 1.3450, with RSI(14) cycling back to neutral after the bullish divergence at the lows. Bailey speech and German state CPI prints this morning are the obvious catalysts to break the balance.
Support: 1.3432, 1.3407, 1.3368
Resistance: 1.3450, 1.3489, 1.3509
What it said to watch
H1 close above 1.3450 prior high opens path to the 1.3489 lower high
Loss of 1.3432 intraday low re-exposes the 1.3407 swing low and 1.3368 week low
Bailey speech at 09:10 GMT could materially shift this read
06:00 UTC
Downtrend, attempting base · RSI 46 · price 1.34376
Lower highs since Tue, basing near 1.3400.
GBPUSD has trended lower since Monday's 1.3509 high, with the Wednesday NY session driving the decisive break under 1.3450 and an extension into Thursday's 1.3368 spike low. Buyers reclaimed 1.3400 into the late NY session yesterday and price is now consolidating around 1.3438, with RSI(14) recovering off oversold and showing a bullish divergence against the lower low. Both EMA(20) and EMA(50) cap from above near 1.3445/1.3475.
Support: 1.3417, 1.3368, 1.3389
Resistance: 1.3450, 1.3489, 1.3509
What it said to watch
Hourly close above 1.3450 NY high opens room toward 1.3489 prior high
Rejection below 1.3445 EMA zone keeps the downtrend intact
Loss of 1.3389 session low re-exposes 1.3368 Thu spike low
BoE Bailey speech at 09:10 GMT could materially shift this read
Lower highs into 1.3370 base, corrective bounce stalling.
Cable rolled over from the 1.3509 week high midweek and printed a session low at 1.3368 before reclaiming 1.3430 into Thursday's NY session. Price is now drifting back under the NY high at 1.3450 with RSI(14) flat around the midline, leaving the bounce looking corrective against the broader downtrend. Action sits below both EMA(20) and EMA(50) on H1, with sellers re-engaging on the approach to 1.3450.
Support: 1.34172, 1.33683
Resistance: 1.34508, 1.34893, 1.3509
What it said to watch
H1 close back above 1.34508 ny high would neutralise the lower-high sequence
loss of 1.34172 wed low reopens 1.33683 week low
BoE Bailey speech at 09:10 GMT could shift the read
04:00 UTC
Downtrend stalling, base forming · RSI 43 · price 1.34373
Lower highs into 1.3370 sweep, two-day base building.
Cable has been in a stepped downtrend since Monday's open at 1.3483, printing a lower high at 1.3490 into Wednesday's NY session before the 1.3370 week low sweep yesterday. Price reclaimed 1.3430 in the NY session and has spent the Asian hours coiling 1.3437–1.3450, with RSI(14) lifting off the 30s while price held the base — a mild bullish divergence. EMA20 sits just overhead near 1.3410–1.3420 and is now flattening, capping the rebound.
Support: 1.3437, 1.3370, 1.3410
Resistance: 1.3450, 1.3490
What it said to watch
Hourly close above 1.3450 prior high opens room back toward the 1.3490 swing high
Loss of 1.3437 session low re-exposes the 1.3370 week low
BOE Bailey speech at 09:10 GMT could materially shift this read
Lower highs from Mon high, recovering from Thu sweep low.
Cable has trended lower from Monday's 1.3509 week high, posting consecutive lower highs through the London sessions and washing out to a 1.3368 week low in NY yesterday before snapping back above 1.3400. Price now consolidates around 1.3440, hugging EMA20 from below with RSI(14) recovering to the mid-40s — a bullish divergence formed at the week low. The bounce stalled at 1.3450 overnight, leaving the NY high as the immediate ceiling.
Support: 1.34186, 1.33683, 1.3400
Resistance: 1.34508, 1.3489, 1.3509
What it said to watch
Hourly close above 1.3450 ny high would shift the read from corrective bounce to recovery
Loss of 1.3418 thu low re-exposes the 1.3368 week low
BoE Bailey speech at 0910 GMT could materially shift this read
02:00 UTC
Downtrend, attempting base · RSI 48 · price 1.34414
Lower highs since Monday peak, basing near range low.
Pair has trended lower since Monday's 1.3509 high, printing a sequence of lower highs through the NY sessions and bottoming twice near 1.3368-1.3417 to form a double bottom. NY session yesterday produced a sharp recovery off the swing low back to 1.3450 intraday high, with RSI lifting from oversold and price reclaiming EMA20. Asia is holding the bounce in a tight range just below 1.3445.
Support: 1.3417, 1.3368, 1.3395
Resistance: 1.3450, 1.3489, 1.3509
What it said to watch
H1 close above 1.3450 intraday high opens a path back to 1.3489 prior supply
Loss of 1.3417 week low reopens 1.3368 swing low
Iran headline risk could materially shift this read on any session
01:00 UTC
Downtrend, attempting base · RSI 50 · price 1.34441
Lower highs from 1.3509, bounce off 1.3368 low.
Sterling has been on the back foot since Monday's open near 1.3478, with the dominant impulse a Wednesday-into-Thursday slide that printed the week low at 1.3368 during NY hours after soft US PCE. The Friday Asia session has staged a recovery off that base, with price now consolidating just above 1.3440 — back above EMA(20) but capped below the 1.3451 prior high and well under the falling EMA(50). Two tests of 1.3368/1.3417 with a higher RSI low hint at a near-term double bottom, but the broader H1 structure of lower highs is intact.
Support: 1.3416, 1.3368, 1.3400
Resistance: 1.3451, 1.3478
What it said to watch
H1 close above 1.3451 prior high would break the lower-high sequence
Loss of 1.3416 swing low reopens the 1.3368 week low
Sustained move under 1.3368 confirms downtrend continuation
GBPUSD traded down from the 1.3509 week high through the NY session two days ago, with a clean sweep into 1.3368 yesterday before reversing on the soft US PCE print. Price has since reclaimed EMA(20) and based around 1.3440 in the Asian session, but the 1.3450 bounce high is capping and RSI has rolled back to 45. Structure remains a series of lower highs until 1.3451 breaks.
Support: 1.34172, 1.33683, 1.3430
Resistance: 1.34508, 1.3489, 1.3509
What it said to watch
H1 close above 1.34508 bounce high opens path to 1.3489 prior swing
Loss of 1.34172 swing low re-engages the 1.3368 week low
Tokyo CPI softness and Iran headlines remain a tape risk into Asia