GBP/USD AI Live Scan, daily chart, Thursday, 16 July 2026
Every read JAFX AI made on the GBP/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:02 UTC
Recovery rally within multi-month range · RSI 66 · price 1.35386
Higher low off June base, testing range top.
Cable has spent four months boxed between the June low near 1.3140 and the April prior high at 1.3650, and the last two sessions delivered a violent recovery rally on the GBP short squeeze (fiscal-discipline hopes plus hawkish BoE pricing), gapping through the 1.34 base to 1.3560. RSI has cycled up toward 66 — firm but not yet the D1 overbought extreme — with price now back above both EMA20 and EMA50. The move is a sharp reclaim of range highs rather than clean new territory; 1.3560 is capping the first attempt.
Support: 1.3480, 1.3372, 1.3140
Resistance: 1.3560, 1.3650
What it said to watch
Daily close above 1.3560 cap opens the path to the 1.3650 prior high
Failure to hold 1.3480 pivot on a pullback signals squeeze fatigue back toward the recent base
UK labour data Mon Jul 21 06:00 UTC could materially shift this read
21:02 UTC
Range recovery, pushing top · RSI 63 · price 1.35386
Higher lows off June base into range top.
Four months of broad ranging between 1.3140 and 1.3660, with a June trough at 1.3140 giving way to a chain of higher lows into July. This week's squeeze — GBP the standout G10 performer on fiscal-discipline hopes and hawkish BoE pricing — drove a sharp bar back above EMA(50) toward the 1.3560 cap. Price now sits at the range top, RSI in the low 60s so not yet extended on this timeframe.
Support: 1.3480, 1.3450, 1.3140
Resistance: 1.3560, 1.3660
What it said to watch
Daily close above 1.3560 opens the path to the 1.3660 april high
Failure to hold 1.3480 pivot re-exposes 1.3450 strong support
UK labour data Mon Jul 21 and Core CPI Tue Jul 22 could materially shift this read