Cable spent the back half of the window grinding along a 1.3273-1.3290 base before a two-bar surge lifted it back above the 1.3405 weekly high, the strongest impulse in three weeks. The move followed the hawkish BoE hold (three hike dissents) meeting a softer post-Fed USD after the Q2 GDP miss and cool core PCE. ATR(14) has expanded sharply on the rebound, and price now sits near the 61.8% retracement of the 1.3558-1.3273 decline.
Support: 1.3405, 1.3273
Resistance: 1.3500, 1.3558
What it said to watch
H4 close back below 1.3405 negates the breakout and puts price back in the base
Reclaim of 1.3500 round number exposes the 1.3558 swing high
US ECI Friday could shift the USD leg of cable materially
Cable carved a double bottom near 1.3273 and turned sharply higher, the last two H4 bars clearing the 1.3405 prior high after the hawkish BoE hold (3 hike dissents) met a softer post-Fed USD. ATR(14) is expanding as the recovery extends and price now sits above both EMA20 and EMA50 following an EMA cross. Momentum is elevated with RSI near 66, keeping the 1.3520 swing high in focus.
Support: 1.3405, 1.3345, 1.3273
Resistance: 1.3520, 1.3558
What it said to watch
H4 close back below 1.3405 negates the breakout and reopens 1.3345 support
Sustained move above 1.3520 swing high exposes the 1.3558 prior high
BoJ Friday and US ECI could shift the USD leg of cable
Cable rolled over from the 1.3558 swing high early-month down to a 1.3273 low, then coiled in a tight 1.3280-1.3350 range for roughly two weeks. The final bar ripped through the 1.3400 EMA cap that had capped every rally since mid-July, closing at 1.3461 as a hawkish BoE vote split (3 hikers) met a soft US Q2 GDP print. ATR(14) had compressed into the range and is now expanding on the break.
Support: 1.3400, 1.3300, 1.32733
Resistance: 1.3528, 1.35579
What it said to watch
H4 close back below 1.3400 negates the range break and re-caps price at the EMA
Failure to reclaim 1.3528 keeps the prior lower-high structure intact
US data flow today could reprice the USD leg and shift this read
Double bottom near 1.3273, broke above 1.3400 cap.
Price rolled over from the early-July high at 1.3558 and based twice near 1.3273, forming a double bottom before the final bar surged through the converged 1.3400 EMA cap that had stalled every rally since mid-July, closing at 1.3461. The move follows a hawkish BoE 6-3 hold and a soft US GDP print that pressured the dollar. ATR(14) is expanding as the breakout extends and price sits above both EMA20 and EMA50.
Support: 1.3400, 1.3273
Resistance: 1.3463, 1.3558
What it said to watch
H4 close back below 1.3400 negates the breakout and re-enters the prior range
Sustained hold above 1.3400 opens the path toward the 1.3558 prior high
US ECI / UoM data Friday could shift the USD-driven read
Cable has carved lower highs since the 1.3558 peak, rolling to a 1.3273 base before the hawkish BoE 6-3 split lifted price off the lows into a strong bullish H4 candle. The converged 1.3400 EMA band remains the cap that has rejected every rally since mid-July, with 1.3300 acting as the near-term shelf. ATR near 41 pips reflects expansion off the base rather than compression.
Support: 1.3300, 1.3273
Resistance: 1.3400, 1.3455
What it said to watch
H4 close above 1.3400 invalidates the lower-high cap and opens 1.3455
Failure to hold 1.3300 reopens the 1.3273 base
US Q2 GDP and Bailey presser could materially shift this read in the next bars
09:02 UTC
Downtrend, flattening into range · RSI 49 · price 1.33384
Lower highs since 1.3558, now boxed 1.3273-1.3400.
Cable rolled over from the 1.3558 peak into a string of lower highs and has since compressed into a 1.3273-1.3400 range, with GBP heavy sub-1.3350 and rallies capped under the converged EMA band near 1.3400. The single 100-pip pop to 1.3387 was faded straight back, leaving price mid-range around 1.3338 and ATR(14) compressed. Price sits just above EMA20 but below the EMA50 cap.
Support: 1.3300, 1.3273
Resistance: 1.3387, 1.3400, 1.3455
What it said to watch
BoE decision, MPR and vote split at 11:00 GMT today can materially shift this read
H4 close above the 1.3400 ema cap would invalidate the range read
Failure to hold the 1.3300 shelf reopens the 1.3273 swing low
Lower highs since mid-month peak, holding above 1.3273 low.
Cable rolled over from the mid-month 1.3558 high and has been pinned in a 1.3250-1.3350 band, with rallies capped under the converged EMA cap near 1.3400 as Fed-BoE divergence weighs. Yesterday's sharp spike to 1.3387 was faded back into the range, keeping the lower-high structure intact. Price now sits mid-range around 1.3338 above a reclaimed EMA20 but under the EMA50.
Support: 1.3300, 1.3273, 1.3250
Resistance: 1.3387, 1.3400, 1.3558
What it said to watch
BoE decision, MPR and vote split at 11:00 GMT could materially shift this read
H4 close below the 1.3300 shelf reopens the 1.3273 swing low and 1.3250 range low
Break and hold above 1.3400 ema cap invalidates the lower-high sequence
05:02 UTC
Downtrend, consolidating near lows · RSI 51 · price 1.33453
Range below descending lower-highs.
GBP/USD sold off from the mid-July 1.3558 high to a three-week low at 1.3273 and has since coiled in a tight range, with sterling pinned into the BoE decision on softer rate pricing rather than USD strength. Yesterday's spike stalled near 1.3390 before closing back at 1.3345, leaving price capped under the chain of descending lower-highs. ATR(14) has compressed to ~26 pips and price sits above EMA20 but below EMA50, a mixed swing signal.
Support: 1.3273, 1.3250
Resistance: 1.3390
What it said to watch
BoE decision and MPR at 11:00 GMT today is the key swing factor for this read
H4 close below 1.3273 confirms a fresh lower-low
Close above 1.3390 opens the descending lower-highs line
05:01 UTC
Downtrend, bounce off lows · RSI 52 · price 1.33453
Lower highs since mid-month, basing near range floor.
GBPUSD rolled over from the mid-month peak at 1.3558 into three-week lows near 1.3273 as the market repriced BoE expectations lower, not on broad USD strength. Price is now basing in a 1.3250-1.3387 band and yesterday's snap higher reclaimed 1.3350 before fading back to 1.3345. ATR is modest and the structure sits below the EMA50 with lower highs still intact.
Support: 1.3273, 1.3250
Resistance: 1.3387, 1.3455, 1.3558
What it said to watch
BoE decision + MPR/vote split at 11:00 GMT and Bailey at 11:30 could reset this read
US Core PCE/GDP cluster at 12:30 GMT is a second-tier catalyst for the pair
H4 close above 1.3387 challenges the lower-high sequence
Failure to hold 1.3273 confirms a fresh lower-low toward 1.3250
01:02 UTC
Downtrend, sharp bounce off support · RSI 55 · price 1.33675
Lower highs since month high, double bottom near 1.3273.
GBPUSD has been in a downtrend from the 1.3558 month high, but price carved a double bottom near 1.3273 and the latest H4 broke sharply out of the 1.3280-1.3350 consolidation into the BoE double-header. ATR expanded on the reversal bar, and a hold above the reclaimed 1.3350 prior-resistance keeps the recovery intact while 1.3400 caps overhead. Note the dovish BoE lean in positioning leaves asymmetry to a hawkish squeeze.
Support: 1.3350, 1.3273, 1.3250
Resistance: 1.3400, 1.3455, 1.3558
What it said to watch
BoE decision/MPR 11:00 GMT + US Core PCE 12:30 GMT today can materially reset this read
H4 close back below 1.3350 negates the breakout and re-exposes the 1.3273 swing low
Failure to hold 1.3273 confirms a lower-low toward 1.3250
GBPUSD rolled over from the 1.3558 early-month high, grinding through a multi-day range near 1.329 as GBP softened into the BoE. The latest bar spiked ~100 pips off the 1.3273 swing low and reclaimed the 1.3350 pivot, with ATR(14) expanding after compressing through the range. Prior high at 1.3388 and the swing high near 1.3455 cap the upside.
Support: 1.3350, 1.3273
Resistance: 1.3388, 1.3455
What it said to watch
H4 close above 1.3388 prior high extends the reclaim toward the 1.3455 swing high
Failure to hold the 1.3350 pivot re-exposes the 1.3273 swing low
BoE decision + MPR Thu 11:00 GMT and US PCE 12:30 GMT could reset this read