Range within a broader down-leg, capped at 200-day sma.
Multi-month down-leg from the early-May peak near 1.3653 bottomed at the mid-June low around 1.3140, where a double base formed. The three-week recovery since has stalled beneath the 200-day SMA near 1.3400, leaving price pinned in a 1.3320-1.3445 range as soft US CPI competes with a USD haven bid. Price sits mid-range around the 38-50% retracement of the May-June swing.
Support: 1.3320, 1.3140
Resistance: 1.3400, 1.3445
What it said to watch
D1 close above 1.3400 opens the 1.3445 range top
Loss of 1.3320 range floor exposes the 1.3140 jun low
UK GDP Thu could shift this range read
21:02 UTC
Range, recovering from June lows · RSI 53 · price 1.33502
Multi-week range, rising lows since mid-June.
Cable has spent the last four months rangebound between the June low near 1.3140 and the 1.3450 range top, with the 200-day SMA around 1.3400 repeatedly capping rallies. Twin lows at 1.3163 and 1.3140 in mid-June formed a double bottom, and price has since recovered to test the 200-day sma before easing back to 1.3350; yesterday's soft US CPI cushioned the pound but the 1.3400 cap held. Momentum is neutral with RSI near 53 and price hugging EMA(50).
Support: 1.3320, 1.3140
Resistance: 1.3400, 1.3450
What it said to watch
Daily close above 1.3400 (200-day sma) opens the 1.3450 range top
Failure to hold 1.3320 range floor exposes the June low at 1.3140
UK GDP Thu 06:00 GMT could break the 1.3350-1.3400 stalemate