21:01 UTC
Downtrend, holding above YTD lows · RSI 41 · price 1.31945
Lower highs since May, consolidating near 1.3140 floor.
Cable has been in a downtrend since the early-May rejection at 1.3650, carving a chain of lower highs and trading below EMA(50) on D1 throughout June as the post-FOMC USD repricing and a run of soft UK PMIs weighed. Price clawed off the 1.3140 YTD low over the last two weeks but remains pinned in a 1.3160-1.3245 band, with the 1.3245 cap unbroken. RSI sits in the low 40s — soft but not yet oversold, consistent with range-bound action near the floor.
Support: 1.3140, 1.3110
Resistance: 1.3245
What it said to watch
- UK GDP tomorrow 06:00 UTC is the nearest high-impact catalyst for this read
- A D1 close below 1.3140 confirms a fresh lower low and opens 1.3110
- Reclaim of 1.3245 cap would neutralise the lower-high sequence
- Fed ADP/ISM Wed and NFP Thu could shift the USD leg of the pair