21:40 UTC
Intraday downswing from London high, now flat · RSI 51 · price 1.33925
Tight late-NY range below 38.2% fib after false break of Asian low.
London cleared the Asian high and printed a london high at 1.3434 near six-week highs. The 12:30 GMT US data window, with ECI in line, knocked Cable back through the Asian range to a ny low at 1.3374, a false break of the 1.3380 Asian low that was quickly reclaimed. The NY bounce stalled at the ny high of 1.3405, near the 50% fib, and price has since compressed into a 1.3389–1.3397 range below the 38.2% fib into the weekly close, with RSI(14) neutral near 51.
Support: 1.3389, 1.3384, 1.3374
Resistance: 1.3397, 1.3405, 1.3434
What it said to watch
- M15 close above the 1.3397 range high and 38.2% fib reopens the 1.3405 ny high
- Failure at the 1.3389 range low and then the 1.3384 swing low exposes the 1.3374 ny low
- A break beyond the 1.3374 ny low or the 1.3434 london high ends the range read
- Weekend gap risk at the Monday open; US ISM Manufacturing (Mon 15:00 UTC) and the BoE run-up could materially shift this read