GBP/USD AI Live Scan, 1-hour chart, Friday, 2 October 2026

Every read JAFX AI made on the GBP/USD 1-hour chart that day, newest first: trend, structure, the levels it marked and what it said to watch.

20:02 UTC

Range-bound, rebounding off the week low · RSI 56 · price 1.32372

Double bottom at 1.3181, higher low post-NFP inside the 1.3181–1.3311 week range.

GBPUSD set a 1.3181–1.3311 range this week. Wednesday's London-led rally topped at the 1.3311 week high, then Thursday's London and NY sessions unwound it to a 1.3181 week low, and Friday's Asia session retested that low to form a double bottom. The US payrolls miss lifted the pair to a post-NFP high at 1.3256, near the 50% fib of the week's drop, and the NY pullback held above 1.3230. Price now sits just above the EMA(20)/EMA(50) confluence near 1.3224 with RSI(14) around 56.

Support: 1.3224, 1.3200, 1.3181

Resistance: 1.3256, 1.3311

What it said to watch

  • H1 close back below the EMA(20)/EMA(50) confluence near 1.3224 exposes the 1.3200 round number and the 1.3181 week low
  • Clearance of the 1.3256 post-NFP high, just above the 1.3246 50% fib of the week drop, opens the path toward the 1.3311 week high
  • The lower highs line from Thursday's 1.3266 high now caps price around the post-NFP high
  • A break of the higher lows line from Friday's 1.3181 retest would undercut the rebound off the double bottom
  • US ISM Services Mon 14:00 UTC (f/c 55.7) could materially shift this read; BoE's Mann speaks Tue

19:02 UTC

Rebound inside the week's downtrend · RSI 58 · price 1.32379

Lower high 1.3311, lower low 1.3181; NFP lift off a double-bottom base.

Wednesday's push to the 1.3311 week high failed, and Thursday's London-to-NY selloff set a 1.3181 week low. Demand held there twice into Friday's Asia session, forming a small double bottom. The US payrolls miss (29K vs 90K) then broke the pair out of the 1.3200–1.3221 pre-NFP range to the 1.3256 nfp high, where it stalled between the 50% and 61.8% fib of the week's drop; price now sits just above a flat EMA(20)/EMA(50) cluster near 1.3223 with RSI(14) at 58.

Support: 1.3223, 1.3200, 1.3181

Resistance: 1.3256, 1.3311

What it said to watch

  • Hourly close back below the ema20 near 1.3223 and the 1.3200 round number would reopen the 1.3181 week low
  • Clearance of the 1.3256 nfp high and the 61.8% fib near 1.3261 opens the path to the 1.3311 week high
  • US ISM Services Mon 14:00 UTC (f/c 55.7) could revive or extend the post-NFP USD repricing
  • BoE's Mann Tue 08:40 UTC is the next GBP-side test of the priced hike path

18:02 UTC

Downtrend from Wednesday high, NFP rebound stalling · RSI 61 · price 1.32333

Double bottom at 1.3181 below a 1.3249 neckline; post-NFP spike above it faded.

Wednesday's rally into London to the 1.3311 week high was fully unwound. Thursday's London open and NY session drove the slide to a double bottom near 1.3181, with tests in Thursday's NY session and Friday's Asia session. Friday's payrolls miss (29K vs 90K, unemployment 4.2%) lifted the pair through EMA(20) to 1.3256, but the spike above the 1.3249 neckline faded back to the 38.2% fib of the week's decline. Price now sits just above EMA(20) at 1.3221 and a flattening EMA(50), with RSI(14) near 61 after recovering from the 30s.

Support: 1.3221, 1.3200, 1.3181

Resistance: 1.3249, 1.3311

What it said to watch

  • H1 close above the 1.3249 neckline confirms the double bottom and opens the path to the 1.3311 week high
  • Loss of ema20 at 1.3221 and the 1.3200 round number shifts focus back to the 1.3181 week low
  • Break of the rising lows trendline from Friday's Asia low would undercut the NFP rebound
  • US ISM Services Mon 14:00 UTC (f/c 55.7) could materially shift this read; a strong print risks retracing the NFP move

17:02 UTC

Downtrend from midweek high, NFP bounce stalling · RSI 52 · price 1.32288

Lower highs from 1.3311; double bottom at 1.3181 with neckline retest.

Selling from Wednesday's 1.3311 week high drove Thursday's London and NY sessions. The decline carved a double bottom at the 1.3181 week low, matching the four-week low flagged in the macro digest. Friday's NFP miss (29K vs 90K) lifted price through the 1.3222 neckline to a 1.3256 NFP high, short of the 50% retracement. That spike met rejection, and price has faded back to the 38.2% level near 1.3230, holding just above EMA(20) at ~1.3219 and sitting on EMA(50), with RSI(14) back near 52.

Support: 1.3222, 1.3196, 1.3181

Resistance: 1.3256, 1.3272, 1.3311

What it said to watch

  • H1 close below the 1.3222 neckline voids the double bottom read and reopens the 1.3196 nfp low
  • Failure to hold the 1.3181 week low confirms a lower-low and extends the downtrend
  • Close above the 1.3256 nfp high breaks the lower-high trendline and exposes the 1.3272 thu high, then the 1.3311 week high
  • US ISM Services Mon 14:00 UTC (f/c 55.7) and BoE's Mann Tue 08:40 UTC could materially shift this read

16:02 UTC

Week-long decline from Wednesday high, rebounding after weak NFP · RSI 61 · price 1.32455

Double bottom at 1.3181 broke above Friday's range; rebound capped near 50% retrace.

Wednesday's London-led push to the 1.3311 week high unwound through Thursday as a yield-driven USD bid drove two legs lower, one in London and one in NY, to the 1.3181 week low. That low held twice into Friday's Asia session. The weak NFP (29K vs 90K) then lifted price out of Friday's London range above the 1.3221 pre-NFP high, and the rebound is stalling at the 1.3256 NFP high, around the 50% retrace of the week's decline. Price is back above EMA(20) and EMA(50) with RSI(14) near 60, up from sub-40 readings during Thursday's selloff.

Support: 1.3230, 1.3221, 1.3181

Resistance: 1.3256, 1.3261, 1.3311

What it said to watch

  • H1 close above the 1.3256 NFP high and the 61.8% fib at 1.3261 opens the path toward the 1.3311 week high
  • Slip back below the 38.2% fib at 1.3230 and the 1.3221 pre-NFP high would mark the NFP breakout as failing
  • Loss of the 1.3181 week low invalidates the double bottom read
  • US 10y near 5.25% and the 30y gilt above 6% remain the drivers into the weekend; ISM Services Mon Oct 5 14:00 UTC (f/c 55.7) could materially shift this read

15:02 UTC

Recovering from week low, testing mid-range · RSI 60 · price 1.3240

Lower high Wed to Thu low; double bottom at 1.3181, NFP squeeze to 1.3247.

Wednesday's London rally to the 1.3311 week high reversed, and Thursday's London and NY sessions drove cable to the 1.3181 week low on firm US data and a yield-led dollar bid. Friday's 29K NFP miss and soft wages lifted price out of the 1.3200–1.3220 pre-release range. The NFP bar printed a higher low at 1.3196 and the squeeze pushed back above the ema20 (1.3216). Price is now pressing the 1.3249 thu high, which sits on the 50% retrace of the Wed–Thu drop, with RSI(14) near 60 and room below overbought.

Support: 1.3216, 1.3196, 1.3181

Resistance: 1.3249, 1.3261, 1.3311

What it said to watch

  • H1 close above the 1.3249 thu high and 50% retrace opens the 1.3261 61.8% fib, then 1.3300 and the 1.3311 week high
  • Rejection at 1.3249 and a close back below the ema20 at 1.3216 returns price to the pre-NFP range
  • Break of the 1.3196 nfp low and the higher lows line exposes the 1.3181 week low; a close below it negates the double bottom
  • Thin Friday NY afternoon trade into the weekend, then US ISM Services Mon 14:00 GMT (f/c 55.7), could materially shift this read

14:02 UTC

Downtrend, NFP-driven bounce testing lower highs · RSI 63 · price 1.3233

Lower highs and lower lows since Wednesday's 1.3311 high; double bottom at 1.3181 broken higher on NFP.

Cable has printed lower highs and lower lows since Wednesday's 1.3311 week high, which followed the UK GDP beat. Thursday's London and NY sessions drove the slide to a 1.3181 week low as firm US data and a global bond selloff lifted the USD. Friday's double bottom at 1.3181 and the NFP miss (29K vs 90K) then lifted price from the 1.3196 NFP low through the lower highs line, reclaiming EMA(20) near 1.3212 and EMA(50) near 1.3225 with RSI(14) at 63. Price now sits at the 38.2% retracement of the Wed–Thu leg, just under the 1.3249 lower high near the 50% level, with the 1.3221 pre-NFP high below as the first shelf.

Support: 1.3221, 1.3196, 1.3181

Resistance: 1.3249, 1.3261, 1.3311

What it said to watch

  • H1 close above the 1.3249 lower high exposes the 61.8 fib at 1.3261 and the 1.3300–1.3311 week high zone
  • Slip back below the 1.3221 pre-NFP high and EMA(20) turns the NFP spike into a possible false break
  • Break of Friday's higher lows line and loss of the 1.3196 NFP low brings the 1.3181 week low back into play; a close beneath it resumes the lower-low sequence
  • US Factory Orders at 14:00 GMT and thin post-NFP Friday NY liquidity could shift this read; a renewed gilt long-end selloff is a GBP-specific drag

13:01 UTC

Downtrend from Wednesday's high, basing above the week low · RSI 53 · price 1.32058

Lower highs from 1.3311; Friday higher lows holding a tight 1.3200–1.3221 range.

After the UK GDP beat lifted the pair to the 1.3311 week high around the London-NY transition on Wednesday, Thursday's London open reversal and a USD bid through NY hours drove a lower high at 1.3249 and a week low at 1.3181. A double bottom at 1.3181 through Friday's Asia session gave way to a London bounce. That bounce stalled at the Friday high of 1.3221, near the 23.6% retracement of the week's decline, leaving price compressed just above psych 1.3200 and a flattening EMA(20), with RSI(14) neutral near 53. The broad NFP miss (29K vs 90K, softer wages) landed into this coil, and its price reaction is not yet visible in the closed bars.

Support: 1.3200, 1.31807, 1.3140

Resistance: 1.32213, 1.32491, 1.33109

What it said to watch

  • H1 close above the 1.3221 Friday high and the 23.6% fib breaks the range ceiling and opens 1.3249, the lower high and 38.2% area
  • Failure to hold psych 1.3200 and the higher-lows line returns focus to the 1.3181 week low, then the 1.3140 ytd low
  • Post-NFP repricing in US yields and October hike odds could materially shift this read within the next few bars
  • Recovery toward the 1.3311 week high would need gilt stress to ease alongside a softer USD

12:01 UTC

Downtrend, pausing above weekly low · RSI 54 · price 1.3207

Lower highs and lower lows since Wednesday's 1.3311 peak; tight Friday base 1.3181-1.3221.

Wednesday's UK GDP upgrade lifted cable to a 1.3311 week high in London, but the rejection there unwound through NY. Thursday's London and NY sessions then drove the dominant leg to a 1.3181 weekly low as firm US claims and ISM prices paid pushed yields and the dollar higher, leaving a lower high at 1.3249 on the intraday bounce. Friday's Asia-London recovery has stalled at 1.3221, the Friday high, below the 23.6% retrace of the Wednesday-Thursday drop. Price is pinned on EMA(20) near 1.3208, just above the 1.3200 psych level, with RSI(14) in the mid-50s ahead of US payrolls.

Support: 1.3200, 1.3181, 1.3140

Resistance: 1.3221, 1.3249, 1.3311

What it said to watch

  • US NFP at 12:30 UTC (~90 min) could materially shift this read; consensus 90K, AHE 0.3% MoM
  • H1 close below the 1.3181 weekly low extends the lower-low sequence toward the 1.3140 ytd low
  • Failure to hold the 1.3200 psych level returns price to the bottom of Friday's base
  • H1 close above the 1.3249 lower high breaks the lower-high sequence, with the 1.3311 week high next overhead
  • Repeated caps at the 1.3221 friday high keep the lower-highs line intact

11:02 UTC

Downtrend, bouncing off week low · RSI 50 · price 1.32107

Lower highs from Wed peak; Friday higher lows at the 23.6% fib.

Wednesday's London-session spike on the upward UK GDP revision set the week high at 1.3311 but faded into NY. Thursday's London open began a 130-pip slide that extended in NY hours on firm US claims and ISM prices paid, printing the week low at 1.3181. Friday's Asia and London sessions built a small double bottom at the week low and higher lows into 1.3200. Price is now pinned on a flat EMA(20) near 1.3209 and the 23.6% retracement of the Wed–Thu drop, capped by the 1.3221 Friday high.

Support: 1.3200, 1.31807, 1.3140

Resistance: 1.32213, 1.32491, 1.33109

What it said to watch

  • US NFP at 12:30 GMT (~90 min) could materially shift this read; a hot print puts the 1.3181 week low back in play
  • H1 close back below the 1.3200 round number breaks the Friday higher lows and voids the double bottom
  • Close above the 1.3221 Friday high opens the path to the 1.3249 Thu bounce high, near the 50% fib
  • Failure to hold the 1.3181 week low exposes the 1.3140 YTD low

10:02 UTC

Downtrend, stalling above week low · RSI 51 · price 1.3205

Lower high at 1.3249 after failed 1.3300 break; 1.3181 tested twice.

Wednesday's London-session push above 1.3300 to the 1.3311 week high failed. Thursday's London open and NY session legs then took the pair to a 1.3181 week low as firm ISM prices paid and claims lifted USD, while the intraday bounce stalled at a 1.3249 lower high near the 50% retracement of the week drop. Friday's Asia retest of 1.3181 held and London lifted price to a 1.3221 session high, but it is now pinned at the 1.3200 round number around a flat EMA(20) near 1.3208, with RSI(14) neutral at ~51 ahead of NFP.

Support: 1.3200, 1.3181, 1.3140

Resistance: 1.3221, 1.3249, 1.3311

What it said to watch

  • US NFP at 12:30 UTC (f/c 90K, AHE 0.3%) is the dominant risk to this structure in the next few bars
  • H1 close below the 1.3200 round number and the 1.3181 week low extends the lower-low sequence toward the 1.3140 ytd low
  • Close above the 1.3221 session high and the 1.3249 lower high (50% of the week drop) would challenge the downtrend read
  • Sustained trade above EMA(20) near 1.3208 would be the first change in character since Wednesday's week high

09:02 UTC

Downtrend, bouncing off week low · RSI 51 · price 1.32128

Lower highs from 1.3311 peak; equal lows at 1.3181.

Wednesday's UK GDP spike above 1.3300 to a 1.3311 week high proved a false break. Thursday's London open selloff and a second leg in NY, as firm US claims and ISM prices paid lifted yields, carried the pair to a 1.3181 week low. Friday's Asia session held that week low for a tentative double bottom, and the early-London bounce to a 1.3219 session high has lifted price back above EMA(20) and the lower-highs line from Wednesday's peak, though EMA(50) near 1.3222 sits just overhead. RSI(14) has recovered to ~51, and price sits at the 23.6% fib of the fade from the week high; the 50% level lines up with Thursday's 1.3249 lower high.

Support: 1.3202, 1.3181, 1.3140

Resistance: 1.3219, 1.3249, 1.3311

What it said to watch

  • US NFP at 12:30 GMT (f/c 90K): a strong print or hot wages puts the 1.3181 week low and the 1.3140 ytd low back in focus
  • H1 close above 1.3222 EMA(50) opens the 1.3249 lower high and 50% retracement
  • Failure to hold the 1.3202 tuesday low brings the double bottom read into question
  • A soft NFP leaves 1.3300/1.3311 week high as the cap on any relief bounce

08:02 UTC

Downtrend, early bounce off week low · RSI 47 · price 1.32118

Lower highs from 1.3311; tentative base at 1.3181.

Cable has printed lower highs since Wednesday's soft-PCE/GDP rally stalled at the 1.3311 week high. Thursday's drop began at the London open and extended in the NY session to a 1.3181 week low as US yields and the DXY firmed. Asia and early London today lifted price back over EMA(20) near 1.3208, a tentative double-bottom neckline, with RSI(14) recovering to ~47; EMA(50) at 1.3226 and the lower-high line sit just overhead.

Support: 1.3208, 1.3181, 1.3140

Resistance: 1.3226, 1.3249, 1.3311

What it said to watch

  • H1 close above the 1.3249 lower high breaks the lower-high sequence and puts the 1.3311 week high back in view
  • Rejection at ema50 1.3226 or the lower-high line keeps the downtrend read intact
  • Failure to hold the 1.3208 ema20/neckline, then a break of the 1.3181 week low, voids the double bottom and exposes the ytd low near 1.3140
  • US September NFP at 12:30 UTC (f/c 90K, AHE 0.3%) could materially shift this read

07:02 UTC

Downtrend, pausing above week low · RSI 47 · price 1.32094

Lower highs from Wed 1.3311 peak, basing at 1.3181.

Wednesday's London-led push to 1.3311 on the UK GDP upgrade fully reversed. From Thursday's London open into the NY session the pair slid 130 pips to a 1.3181 week low as US yields and DXY hit cycle highs, with gilt stress adding a GBP discount. Friday's Asia session retested 1.3181 and bounced. Price now sits on the ema20 near 1.3207 and just under the lower-highs trendline from Wednesday's high, with RSI(14) recovered to ~47.

Support: 1.3207, 1.3181, 1.3140

Resistance: 1.3212, 1.3224, 1.3249

What it said to watch

  • US NFP at 12:30 GMT today could materially shift this read; a firm print puts the 1.3181 week low and the 1.3140 ytd low back in focus
  • H1 close above the 1.3212 trendline and the ema50 at 1.3224 would mark the first break in this week's lower-highs sequence
  • The 1.3249 lower high sits near the 50% retracement of the 1.3311–1.3181 drop; reclaiming it shifts the read from downtrend to range
  • Failure to hold the 1.3181 week low confirms a lower-low, with the 1.3140 ytd low next

06:02 UTC

Downtrend, Asia bounce testing EMA(20) · RSI 47 · price 1.32111

Lower highs and lower lows since Wednesday's 1.3311 high; twin lows at 1.3181.

Wednesday's push through 1.3300 to the 1.3311 week high on the UK GDP upgrade and soft PCE failed and reversed. Thursday's London and NY sessions then carved lower highs into a 1.3181 week low as hot ISM prices paid and the gilt sell-off lifted USD. Asia has bounced from a tentative double bottom at 1.3181 back above the 1.3200 round number and a flat EMA(20), with RSI(14) recovering to ~47; the lower-highs line from Wednesday sits just overhead near 1.3215, and the 38.2% fib of the Wed-Thu drop at 1.3230 lies beyond it, with price still below EMA(50).

Support: 1.3200, 1.3181, 1.3140

Resistance: 1.3230, 1.3249, 1.3311

What it said to watch

  • US NFP at 12:30 UTC (~6h) could materially shift this read
  • H1 close below the 1.3181 week low confirms a lower-low and exposes the 1.3140 ytd low
  • Close above the 1.3249 lower high, beyond the 38.2% fib at 1.3230, breaks the lower-highs sequence; 1.3311 week high sits above
  • Failure to hold the 1.3200 round number voids the double bottom read

05:02 UTC

Downtrend, Asia bounce testing EMA(20) · RSI 47 · price 1.32095

Lower highs since Wed peak; double test of 1.3181 week low.

Wednesday's 1.3311 week high came after the UK GDP beat and softer US PCE. The whole move was erased Thursday, from the London open through NY hours, as surging ISM prices paid and higher US yields lifted USD to a 1.3181 week low. That low has now held twice, and the Asia session bounce has brought price back to EMA(20) near 1.3207 just above the 1.3200 psych, with RSI(14) back in the high 40s. Overhead, the falling trendline from the week high sits near 1.3217, with the fib 38.2 of the week's decline at 1.3230.

Support: 1.3200, 1.3181, 1.3140

Resistance: 1.3217, 1.3249, 1.3311

What it said to watch

  • US NFP at 12:30 UTC could materially shift this read; a large miss or beat would likely decide whether the 1.3181 week low holds
  • An H1 close above the 1.3249 lower high breaks this week's lower-high sequence
  • An H1 close back below the 1.3200 psych and EMA(20) returns focus to the 1.3181 week low
  • A break of 1.3181 exposes the 1.3140 ytd low; rejection at the trendline near 1.3217 keeps lower highs intact

04:01 UTC

Downtrend, consolidating at lows · RSI 40 · price 1.31993

Lower highs from Wednesday's 1.3311 peak; tight base above 1.3181.

The UK GDP beat on Wednesday lifted the pair to a 1.3311 week high, but the push above 1.3300 failed. Supply then took control from Thursday's London open, and firm US ISM prices paid sent it to a 1.3181 week low as the dollar extended its run. Since then the pair has been pinned in a narrow Asian range just under 1.3200, with the ema20 near 1.3206 capping and the lower-high trendline from Wednesday's peak still intact below the weekly open at 1.3242.

Support: 1.3181, 1.3150

Resistance: 1.3206, 1.3242, 1.3311

What it said to watch

  • US NFP at 12:30 UTC today could materially shift this read in either direction
  • H1 close below the 1.3181 week low extends the lower-low sequence toward the 1.3150 round number
  • Sustained trade back above the ema20 at 1.3206 and the lower-high trendline would ease the downside structure
  • Recovery through the weekly open at 1.3242 (near the 50% fib of the Wed–Thu drop) would negate the week's lower-high pattern

03:02 UTC

Downtrend, momentum stalling at lows · RSI 35 · price 1.31893

Lower highs since Wednesday's 1.3311 high; tight Asian range above week low.

Wednesday's GDP-driven push above 1.3300 met rejection at the 1.3311 high. Thursday's London open then broke Tuesday's 1.3202 low, and the NY session extended to a 1.3181 week low as firm US claims and ISM prices paid lifted USD. Lower highs from Wednesday define a trendline capping each bounce, with price below EMA(20) near the 1.3200 pivot and RSI(14) in the mid-30s; the Asia session has compressed in a ~15-pip band just above the week low ahead of NFP.

Support: 1.3181, 1.3150

Resistance: 1.3200, 1.3249, 1.3266

What it said to watch

  • US NFP at 12:30 UTC today (f/c 90K) could materially shift this read
  • H1 close back above the 1.3200 pivot/ema20 eases downside momentum; the 1.3249 lower high (near the 50% fib) and the 1.3266 thu high sit above
  • Failure to hold the 1.3181 week low extends the lower-low sequence toward the 1.3150 round number
  • A break above the lower-highs trendline from Wednesday's high would undermine the downtrend structure

02:01 UTC

Downtrend, lower highs since Wednesday · RSI 34 · price 1.31847

Lower-high, lower-low sequence below 1.3200.

Wednesday's spike to the 1.3311 week high on the UK GDP upgrade and soft US PCE met rejection and was fully unwound. From the London open on Thursday, price broke below the weekly open at 1.3243. NY hours then extended the move through the 1.3200 round number to a 1.3181 week low after firm US claims and ISM prices-paid lifted the dollar. The Asia session is holding a tight band just above the week low, with EMA(20) near 1.3208 and the descending lower-highs trendline both overhead.

Support: 1.3181

Resistance: 1.3200, 1.3243, 1.3311

What it said to watch

  • US NFP at 12:30 UTC today could materially shift this read
  • H1 close back above the 1.3200 round number and EMA(20) would neutralise the range break
  • Failure to hold the 1.3181 week low extends the lower-low sequence
  • Recovery through the weekly open at 1.3243 and the lower-highs trendline would challenge the downtrend read; the fib 50% sits near 1.3246

01:02 UTC

Downtrend, consolidating near lows · RSI 39 · price 1.31972

Lower highs and lower lows since Wednesday's 1.3311 peak.

Wednesday's GDP-led push through 1.3300 was rejected at 1.3311 and fully unwound on Thursday. The London open broke Tuesday's 1.3202 low, and NY hours extended the drop to a 1.3181 week low as DXY cleared 102 and gilt stress weighed on GBP. Price now sits just under the 1.3200 psych handle and below EMA(20) at 1.3209, with lower highs stepping down from 1.3266 to 1.3249 and 1.3209, RSI(14) near 39 and a tight 1.3187–1.3198 range since the NY close.

Support: 1.3181

Resistance: 1.3200, 1.3209, 1.3249

What it said to watch

  • US NFP Fri 12:30 UTC (f/c 90K) could materially shift this read
  • H1 close above the ema20 at 1.3209 and the lower highs line would interrupt Thursday's sequence
  • Reclaiming the 1.3200 psych handle is the first sign of the range break failing
  • Failure to hold the 1.3181 week low confirms a fresh lower low
  • Recovery through the 1.3249 lower high, near the 50% fib of Wed high–Thu low, would neutralise the downtrend read
  • UK 30y gilt yield extending above 6% keeps pressure on GBP regardless of US data

00:01 UTC

Downtrend, lower highs since Wednesday · RSI 40 · price 1.31955

Lower high 1.3249 / lower low 1.3181 below Tuesday's low.

Wednesday's GDP-led pop to 1.3311 was rejected into NY hours. Thursday's London and NY sessions both drove lower, breaking the tue low at 1.3202 and printing a week low at 1.3181 as firm US claims and ISM prices paid lifted the dollar while the gilt sell-off weighed on Sterling. Price now sits below the weekly open at 1.3228 and under EMA(20) near 1.3213, with RSI(14) around 40. Thursday's bounce stalled at the 1.3249 lower high, close to the 50% retrace of the Wed high-Thu low drop.

Support: 1.3181

Resistance: 1.3202, 1.3228, 1.3249

What it said to watch

  • US NFP Fri 12:30 UTC could materially shift this read
  • H1 close below the 1.3181 week low extends the lower-low sequence
  • Recovery back above the 1.3202 tue low and the 1.3228 weekly open would point to a false break
  • A move through the 1.3249 lower high and the lower highs trendline invalidates the downtrend read
  • UK 30y gilt yield holding above 6% keeps Sterling under pressure

All markets that day · Today’s GBP/USD Live Scan in the terminal