Higher highs and higher lows since Monday, range-bound near weekly highs.
GBPUSD pushed from Monday's 1.3530s up to a week high at 1.3643 into mid-week before a sharp NY-session drop on Thursday wiped two days of gains and tested 1.3547. Price gapped lower into this week's Asia open near 1.3554 but has clawed back to 1.3598, reclaiming EMA(20) on H1 with RSI(14) recovering through 50. Structure is consolidating below the 1.3606 intraday high while holding above the gap fill area.
Support: 1.3580, 1.35543, 1.3547
Resistance: 1.3606, 1.36306, 1.36432
What it said to watch
Hourly close back below 1.3580 session low reopens the weekly low at 1.3547
Close above 1.3606 intraday high exposes the 1.3630 prior high
US CPI later this week is the dominant scheduled risk for the read
08:01 UTC
Uptrend, momentum stalling near range top · RSI 53 · price 1.36004
Rising channel from weekly low, capped at 1.3640.
Price has recovered the 1.3600 round number into the early London session after Friday's rejection from the 1.3640 swing high and gap-driven dip to the weekly low at 1.3547. Pullbacks since Monday's open have been finding the EMA(20) cleanly, with RSI(14) cycling through the mid-50s on each leg higher. Week high at 1.3630 remains the level capping upside attempts.
Support: 1.3590, 1.3547, 1.3530
Resistance: 1.3630, 1.3643, 1.3600
What it said to watch
H1 close above 1.3630 week high opens path to 1.3643 swing high
Loss of 1.3590 ema20 on a close exposes the 1.3547 weekly low
Trump-Xi summit headlines later this week could shift the read
07:01 UTC
Pullback within broader uptrend · RSI 43 · price 1.35858
Lower highs since Thursday peak, holding above 1.3550.
Cable opened the week with a bearish gap from Friday's 1.3635 close down to 1.3554, capping a string of lower highs that has built since Thursday's 1.3643 peak. Asia session has clawed back into the 1.3585–1.3600 zone but price is trading below both EMA(20) and EMA(50) on H1, with RSI(14) mid-40s reflecting the corrective tone. Iran-related USD bid noted in headlines is the prevailing driver into European hours.
Support: 1.35543, 1.35467, 1.35311
Resistance: 1.3600, 1.36306, 1.36432
What it said to watch
H1 close back above 1.3600 psych would neutralise the lower-highs sequence
Loss of 1.3554 weekend low opens path to 1.3531 week low
Light calendar today means headline risk around US-Iran remains the swing factor
Lower highs from 1.3643 peak, holding above 1.3580.
GBPUSD ran from 1.3514 early in the week to a 1.3643 peak before the bearish gap into this week's Asia session dropped price to 1.3543. The Asia session has clawed back into 1.3580–1.3600, but momentum has faded and RSI(14) is sub-50 with price now below both EMA(20) and EMA(50). The 1.3600 round number is acting as the immediate cap and bulls look hesitant there per the FXStreet read.
Support: 1.3580, 1.35543, 1.35307
Resistance: 1.3600, 1.3624, 1.36432
What it said to watch
Hourly close above 1.3600 round number reopens the prior high at 1.3624
Loss of the 1.3580 session low exposes the 1.3554 weekly open
Trump China visit May 13-15 and ongoing Iran/Hormuz headlines could inject USD volatility
Cable trended higher all of last week from 1.3515 to a 1.3640 swing high before Friday's NY close. Monday opened with a gap lower to 1.3548, pared most of the losses back toward 1.3600 in Asia, and has since stalled just below the round number with RSI hovering near 42. Price sits below EMA20 and EMA50 for the first time this week, turning the structure into a holding range under prior resistance.
Support: 1.3580, 1.3548, 1.3547
Resistance: 1.3600, 1.3640
What it said to watch
Hourly close back above 1.3600 round number reclaims the uptrend structure
Loss of 1.3580 session low opens path to retest the 1.3548 gap open
Trump–Xi summit headlines this week could shift USD tone
04:01 UTC
Uptrend stalled, pulled back from 1.3640 · RSI 49 · price 1.35894
Lower high after weekly gap down, basing near 1.3590.
Cable climbed from Monday's 1.3515 low to a Friday NY-session peak at 1.3643, then gapped lower into this week's open at 1.35543 and based through the Asia session. Price is now reclaiming the 1.3590 area but capped under the 1.3600 round number, with RSI(14) hovering near 49 — neutral after the gap-down reset. The lower high relative to Friday's 1.36432 is the dominant structural feature.
Support: 1.35543, 1.35475, 1.3521
Resistance: 1.3600, 1.36361, 1.36432
What it said to watch
Hourly close above 1.3600 round number reopens 1.36361 fri high
Loss of 1.35543 weekly open exposes 1.35475 fri low and 1.3521 week low
China CPI beat (1.2% vs 0.8%) supporting broader USD tone into London
Cable spent the week grinding from Monday's 1.3514 low up to a 1.3643 week high during Thursday's NY session before slipping back into Friday's close. The Asia open gapped lower to 1.3554 and has since recovered the 1.3590s, with RSI(14) flat around 52 and price pinned between the gap low and the 1.3608 intraday high. Read remains a corrective pullback inside this week's uptrend until the gap area gives way.
Support: 1.3549, 1.3514, 1.3580
Resistance: 1.3608, 1.3636, 1.3643
What it said to watch
H1 close below 1.3549 gap low reopens the 1.3514 week low
GBPUSD spent the week grinding higher from the Monday open near 1.3525 to a Friday peak at 1.3636 before a sharp NY-session reversal dragged price back to the 1.3547 swing low. The Asian session has reclaimed 1.3600 with RSI(14) cycling back through 58 and price holding above EMA(20), suggesting the pullback has been absorbed for now. Friday's rejection at 1.3636 leaves the week high as the key structural ceiling.
Support: 1.3554, 1.3547, 1.3548
Resistance: 1.3636, 1.3625, 1.3600
What it said to watch
H1 close back below 1.3554 friday low reopens the lower-high read
Reclaim and hold above 1.3625 prior high points back at the 1.3636 week high
US CPI on Tuesday is the main scheduled risk for this read
Higher highs into 1.3636, deep pullback to 1.3547, recovering.
Cable trended higher through the week from the 1.3520 weekly open, printing a 1.3636 week high during the Friday NY session before sellers stepped in and dragged price back to 1.3547. The Sunday/Monday Asia reopen has recovered most of that drop, with price back above EMA(20) and EMA(50) around 1.3593. RSI cycled to overbought near the 1.3636 high and printed a bearish divergence on the retest, but momentum has rebuilt off the 1.3547 support.
Support: 1.35543, 1.35475, 1.3520
Resistance: 1.36361, 1.3624, 1.3608
What it said to watch
Sustained H1 close back above 1.3636 week high would extend the uptrend
Loss of 1.3547 week low reopens 1.3520 weekly open
Iran-US headlines remain a USD risk factor through Asia
China April CPI release in the Asia session could shift broad USD tone
Higher highs into 1.3636, sharp retrace to 1.3547.
Cable trended higher through the week from 1.3513 to a 1.3643 week high, with the cleanest impulse during the NY session two days ago. The pullback off 1.3636 broke back through the 1.3600 psych level and tagged a 1.3547 week low before the Asia reopen lifted price back to the EMA20. RSI rolled over from 70+ at the highs while price made an equal high, leaving a bearish divergence into the retrace.
Support: 1.3547, 1.3513
Resistance: 1.3600, 1.3624, 1.3643
What it said to watch
Hourly close back above 1.3600 psych puts the week high at 1.3643 back in play
Loss of 1.3547 week low opens 1.3513 prior low
Iran-US headline risk and Tuesday US CPI could materially shift this read