21:01 UTC
Downtrend, momentum slowing · RSI 44 · price 1.32533
Lower highs and lower lows since April peak.
Cable has been in a stair-step downtrend since the early-April rejection near 1.3660, printing successive lower highs and lower lows while holding below a falling EMA(50). Price marked a fresh swing low at 1.3140 last week and has since clawed back toward 1.3250, but the 1.3270 cap — last week's top — has so far rejected attempts higher. The move is a USD story: hawkish Fed repricing and a firm dollar are keeping rallies capped ahead of US jobs data.
Support: 1.3140, 1.3190, 1.3100
Resistance: 1.3270, 1.3300
What it said to watch
- Daily close above 1.3270 invalidates the lower-high sequence and opens 1.3300
- Failure to hold 1.3140 confirms continuation of the lower-low chain
- US ADP/NFP this week and Bailey speeches are the dominant near-term catalysts for this read