21:03 UTC
Downtrend, momentum stalling at range floor · RSI 36 · price 1.32132
Lower highs and lower lows from the Aug 21 peak, now a 10-session range.
GBP/USD has printed lower highs and lower lows since the 1.3675 Aug 21 peak. The Sep 16 breakdown through the 1.3475–1.3570 shelf left price below both the D1 EMA(20) and EMA(50), and the EMA(50) has rolled over. The last ten sessions have compressed into a 1.3180–1.3286 range, and Tuesday's spike to the range high was fully reversed as US 10y yields hit 5.30% and UK 30y gilts topped 6%. Lows are holding above the June low at 1.3140, with RSI near 36, soft but not oversold.
Support: 1.3181, 1.3140
Resistance: 1.3286, 1.3372, 1.3568
What it said to watch
- A D1 close below the 1.3181 range floor exposes the 1.3140 june low and extends the lower-low sequence
- A close above the 1.3286 range high and the lower highs line opens the 1.3372 breakdown level, which is also the 38.2% fib of the Aug–Oct decline
- A recovery through the 1.3568 lower high would neutralise the downtrend read
- UMich sentiment and inflation expectations (Fri) and UK Aug GDP (Oct 15) could materially shift this read