21:03 UTC
Two-way, recovering from week low · RSI 51 · price 1.32354
Higher lows off 1.3184, capped at 1.3250 range top.
Tuesday's London-to-NY rally to the 1.3286 week high fully unwound through Wednesday's sessions as the dollar firmed, printing a 1.3184 week low in Thursday's London session. Higher lows have since formed at 1.3184 and the 1.3206 friday low on Friday's NY-open dip. The range top at 1.3247–1.3250, the 61.8% retracement of the decline, rejected both Thursday and Friday, keeping the lower-highs sequence intact. The pair closed the week just above EMA(20) near 1.3231 with RSI(14) flat around 51, sterling shrugging off the US Michigan sentiment miss.
Support: 1.3231, 1.3206, 1.3184
Resistance: 1.3250, 1.3286
What it said to watch
- H1 close above the 1.3250 range top and the lower-highs line would put the 1.3286 week high back in play
- A break below the 1.3206 friday low ends the higher-lows sequence and exposes the 1.3184 week low
- Repeated H1 closes below EMA(20) near 1.3231 would weaken the recovery read
- BoE Breeden (Mon 09:30 UTC): a hawkish November-hike signal could test the range top
- US CPI (Wed 12:30 UTC) could materially shift this read