Cable has carved out a sequence of higher highs and higher lows since the 1.3454 base, with last week's push tagging 1.3657 before sellers stepped in. The pullback to 1.3549 held and price has reclaimed the EMA50, leaving the structure constructive but momentum visibly cooling as RSI flattens near the midline. Iran headlines and a Trump-Xi meeting later this week sit in the background alongside US CPI.
Support: 1.3549, 1.3515, 1.3454
Resistance: 1.3636, 1.3657
What it said to watch
H4 close below 1.3549 swing low breaks the higher-low sequence
Reclaim of 1.3636 swing high reopens the path to 1.3657 prior high
Higher highs and higher lows; pullback from 1.3643.
Higher-low structure intact since the late-April push from 1.3463, with the rally peaking at 1.3643 before a gap-down open dragged price back to test the 1.3588 area. Price now sits below the EMA20 but above the EMA50, with ATR(14) around 36 pips suggesting normal swing volatility rather than compression. Weekend Iran headlines and a hotter-than-expected China CPI print are weighing on risk sentiment into the new week.
Support: 1.35475, 1.3515, 1.34629
Resistance: 1.3636, 1.35991
What it said to watch
H4 close below the 1.3548 swing low would break the higher-low sequence
Reclaim of EMA20 near 1.3599 reopens the 1.3636 swing high
Sustained risk-off from Iran headlines could pressure cable further
Higher highs and higher lows since late-April low at 1.3447, currently retracing from 1.3643 swing high.
Cable has carved a clean sequence of higher highs and higher lows since the 1.3447 swing low, peaking at 1.3643 before this latest pullback. Price rejected from the 1.3636 swing high and gapped lower into the weekend, with the session low at 1.3554 now the immediate pivot. RSI cooling to mid-range and ATR(14) around 41 pips show momentum easing rather than reversing — structure remains constructive while above the 1.3513 swing low.
Support: 1.35543, 1.35135, 1.34475
Resistance: 1.36361
What it said to watch
H4 close below 1.3554 session low opens path to retest 1.3513 swing low
loss of 1.3513 swing low would break the higher-low sequence
reclaim of 1.3636 swing high re-engages the prior uptrend toward 1.3657 prior high
Iran-US headline risk and Tuesday US CPI could materially shift this read