Series of lower highs and lower lows; sideways consolidation at the lows.
Sterling has traded one-way lower from Monday's 1.3528 area, with every session printing a lower high; the decisive leg came in Wednesday's NY session when the Fed's 25bp hike drove a vertical break of the 1.3400 psych level. Thursday's BoE hold extended the move, a single hour wiping out 55 pips from the 1.3406 prior high down toward the 1.3336 day low, after which price has coiled in a 25-pip consolidation through Asia. RSI(14) has recovered off the mid-20s to the high 30s without price reclaiming EMA20 near 1.3365, so the bounce so far reads as pause rather than repair.
Support: 1.3336, 1.3300
Resistance: 1.3365, 1.3406, 1.3400
What it said to watch
UK Retail Sales at 06:00 GMT is the next scheduled risk for this pair and could break the consolidation either way
An hourly close back above the 1.3365 ema20 and then the 1.3400 psych level would break the lower-high sequence
Loss of the 1.3336 day low confirms continuation and puts the 1.3300 psych level in focus
Failure of the 1.3406 prior high to be tested on any bounce keeps the lower-highs trendline intact
22:01 UTC
Downtrend, extended but stalling · RSI 39 · price 1.33575
Series of lower highs and lower lows; tight consolidation just off the week low.
Cable has printed lower highs every session in this window, with the two decisive legs both landing in NY and London hours: the hawkish Fed hike late Wednesday's NY session sliced 80 pips through 1.3440, and today's 6-3 BoE hold at midday London extended the move to a week low at 1.3336. Since that flush price has coiled in a 1.3345–1.3358 band, capped by the EMA20 near 1.3366, with RSI(14) around 39 lifting off its lows but no reclaim of the prior-day high at 1.3404 or the 1.3400 round number. The lower-highs line off Monday's 1.3528 high still frames the decline.
Support: 1.3336, 1.3300
Resistance: 1.3366, 1.3404, 1.3448
What it said to watch
UK Retail Sales at 06:00 GMT Friday is the next scheduled input for this pair
Hourly close back above the 1.3400 round number and prior-day high at 1.3404 would question the breakdown
Loss of the 1.3336 week low confirms a fresh lower low and puts 1.3300 in focus
Sustained trade back above the EMA20 at 1.3366 would break the sequence of failed bounces
21:01 UTC
Downtrend, extended but decelerating · RSI 37 · price 1.33582
Successive lower highs and lower lows; basing just off the low.
GBPUSD has traded one-way lower across the week, with the two decisive legs both news-driven: the Fed's hike knocked price out of the 1.3440-1.3460 shelf during Wednesday's NY session, and the BoE's in-line 6-3 hold triggered a second vertical drop from 1.3404 to 1.3350 in Thursday's London-NY transition. Price closed the NY session at 1.33582, below both EMA(20) near 1.3373 and EMA(50), with RSI(14) at roughly 37 and no bullish divergence yet against the 1.3336 day low. The last five hourly bars have compressed into a 15-pip consolidation off that low, ATR(14) around 18 pips.
Support: 1.3336, 1.3300
Resistance: 1.3373, 1.3404, 1.3461
What it said to watch
UK Retail Sales at 06:00 GMT (09:00 broker) is the next scheduled catalyst and could reset this range
An hourly close back above the 1.3373 ema20 would be the first break in the week's lower-high sequence
Loss of the 1.3336 day low confirms continuation toward the 1.3300 round number
Reclaiming 1.3404 (day high) would invalidate the post-BoE downtrend read
20:01 UTC
Downtrend, impulsive legs lower · RSI 39 · price 1.33533
Successive lower highs and lower lows, price basing at week low.
Cable has trended lower all week, with the dominant leg coming in the NY session after Wednesday's hawkish Fed hike, which broke the 1.3440s shelf and dropped price 80 pips in a single hour. Thursday's in-line 6-3 BoE hold produced a second flush during NY hours: the 1.3404 prior day high capped the rebound, and price has since carved a 1.3336 week low before stabilising in the mid-1.3350s. RSI(14) near 39 has failed to reclaim 50 on any bounce, and every pullback since Wednesday has stalled beneath the H1 EMA(20), now around 1.3374.
Support: 1.3336, 1.3300
Resistance: 1.3374, 1.3404, 1.3460
What it said to watch
UK Retail Sales at 06:00 GMT Friday is the next domestic catalyst and could reset this week's slide
An hourly close back above the 1.3374 ema20 would be the first break of the lower-high sequence, with 1.3404 prior day hi and 1.3460 prior high above
Loss of the 1.3336 week low extends the downtrend and opens the 1.3300 psych area
Compression above 1.3336 with RSI holding near 40 while price makes marginal new lows would flatten the momentum read
Consecutive lower highs and lower lows since Monday, price basing at week low.
GBPUSD has trended lower all week from the 1.3528 area, with the decisive leg coming in the NY session on the Fed's hawkish hike, which broke the 1.3446 pre-fed shelf and dropped price 70 pips in one hour. A second impulse arrived during today's London-NY transition after the 6-3 BoE hold, taking price through 1.3350 to a session low at 1.3336; the bounce attempt stalled beneath the ema20 near 1.3370 and price is closing the week's lows. RSI(14) at ~39 sits below its midline without reaching oversold, and the lower-highs line off Tuesday continues to cap every recovery.
Support: 1.3336, 1.3330
Resistance: 1.3370, 1.3404, 1.3446
What it said to watch
Loss of 1.3336 session low exposes the 1.3330 psych area and confirms continuation of the lower-low sequence
An hourly close back above the ema20 at 1.3370 would be the first break of this week's lower-highs structure; 1.3404 prior-day high is the next reference above
UK Retail Sales Friday 06:00 GMT could materially shift this read within the next few bars
Successive lower highs and lower lows; 1.3370-1.3400 shelf broken.
GBPUSD has lost ground in every session since Monday's open near 1.3518, and the sharpest legs came in NY hours: the hawkish Fed hike knocked it under 1.3400 and the in-line 6-3 BoE hold flushed it through the 1.3370-1.3400 shelf, with today's NY move extending to a fresh week low at 1.3336. Price sits back below the H1 EMA(20) at 1.3379, which has capped every attempt since that break, and the 1.3406 day high stands as the latest lower high. RSI(14) near 41 has lifted off its lows without reclaiming 50, leaving 1.3300 as the next round-number reference beneath the week low.
Support: 1.3336, 1.3300
Resistance: 1.3379, 1.3406
What it said to watch
UK Retail Sales Friday 06:00 GMT (MoM f/c -0.2%) is the next scheduled input for this pair
An hourly close back above the 1.3379 ema20 would break the run of lower highs; 1.3406 day high is the level above it
Failure to hold 1.3336 week low opens the path toward the 1.3300 psych level
DXY holding its reclaim of 100.00 remains the dominant driver behind this leg
17:01 UTC
Downtrend, momentum still expanding · RSI 40 · price 1.33481
Series of lower highs and lower lows; consolidation broken to the downside.
Sterling has traded a clean sequence of lower highs and lower lows all week, with the dominant leg the vertical post-FOMC drop from the 1.3450s into 1.3372 as the Fed's hawkish hike pushed the dollar to two-month highs. The 1.3370–1.3404 consolidation that followed broke down through the NY session, and the in-line 6-3 BoE hold added a second impulse lower to a fresh week low at 1.3336. Price is capped by EMA(20) near 1.3372 with RSI(14) at ~40 and no bullish divergence yet against the latest low.
Support: 1.3336, 1.3330, 1.3350
Resistance: 1.3372, 1.3404
What it said to watch
Hourly close back above the 1.3372 ema20 would be the first crack in the lower-high sequence
Acceptance above 1.3404 prior high invalidates the range break read
Failure to hold the 1.3336 week low exposes the 1.3330 round number
UK Retail Sales Fri 06:00 GMT is the next scheduled event able to reshape this structure
Unbroken lower highs and lower lows; shelf at 1.3370 broken.
Every session since Monday's open has printed a lower high, and the two step-downs came in identifiable windows: the Fed's hawkish hike in Wednesday's NY session flushed 1.3449 to 1.3381 in a single hour, then the BoE's in-line 6-3 hold at Thursday's London midday broke the 1.3370–1.3406 shelf and took price to 1.33495. Price has spent 24 hours below EMA(20) at 1.3382, with the 1.3406 day high capping the one attempt to recover, and RSI(14) near 36 has not been able to cycle back above 50 since the Fed bar.
Support: 1.33495, 1.3300
Resistance: 1.3382, 1.3406, 1.3445
What it said to watch
UK Retail Sales Fri 06:00 GMT (MoM -0.2% f/c) is the next domestic catalyst for this structure
An hourly close back above the ema20 at 1.3382, and then the 1.3400 pivot, would break the lower-high sequence
Failure to hold the 1.33495 session low extends the sequence toward the 1.3300 round number
Rejection at the 1.34450 pre-fed high area remains the ceiling on any recovery leg this week
Lower highs and lower lows all week, now consolidating post-FOMC.
Every session since Monday's open has printed a lower high, with the decisive leg coming in the NY session yesterday when the hawkish Fed hike dropped the pair from 1.3446 prior support to 1.3381 in a single hour. Since then price has coiled between the 1.3370 range floor and the 1.3406 range top, and this NY session's flush to the 1.3350 spike low was fully reclaimed within two bars — a false break rather than a fresh impulse. Price is pinned just under EMA20 at 1.3382 with EMA50 well above, and RSI(14) has recovered to the mid-40s from oversold, flattening rather than turning.
Support: 1.3370, 1.3350, 1.3300
Resistance: 1.3382, 1.3406, 1.3446
What it said to watch
Hourly close above the 1.3406 range top with EMA20 reclaimed would end the lower-high sequence that has held since Monday
Sustained trade below the 1.3370 range floor and the 1.3350 spike low re-opens the 1.3300 psych level
UK Retail Sales Fri 06:00 GMT is the only high-impact UK print left this week and can break the current consolidation either way
Fed's Bowman 07:30 GMT and US Industrial Production 13:15 GMT are the near-term USD-side risks to this range read
Lower highs and lower lows; post-FOMC consolidation with a fresh low swept and reclaimed.
Cable has ground lower all week from the 1.3531 area, with the decisive leg coming in the NY session on the Fed's hawkish 25bp hike, which knocked the pair through 1.3400 in a single 80-pip bar. Since then price has consolidated in a 1.3370–1.3404 band; the BoE-hour bar sold into 1.33495 — a false break below the consolidation floor — before recovering the range, and price now sits back under the EMA(20) at 1.3382 with RSI(14) mid-40s and no bullish divergence yet. Supply has capped every attempt at the day high near 1.3404 during NY hours.
Support: 1.33495, 1.3300
Resistance: 1.33815, 1.34042, 1.34612
What it said to watch
Hourly close back above 1.34042 day high would end the sequence of lower highs on this window
Failure to hold 1.33495 session low on a closing basis confirms continuation toward the 1.3300 psych area
UK Retail Sales Fri 06:00 GMT and Fed's Bowman later that morning are the next catalysts capable of resetting this range
Sustained trade back above the EMA(20) at 1.3382 would neutralise the intraday downside pressure
Sequence of lower highs and lower lows all week; compressed 1.3350-1.3406 range since the FOMC break.
The week's decline from 1.3534 accelerated on the FOMC bar in Wednesday's NY session, an 80-pip candle from 1.3461 to 1.3381 that took cable through the prior support shelf. Since then price has been pinned in a narrow band under the 1.3406 day high, with today's London-session spike through the shelf low to a 1.33495 week low fully retraced inside the hour. Price is back under the H1 ema20 at 1.3396 with RSI(14) near 40 and no bullish divergence; the in-line BoE hold at 3.75% left the pre-FOMC area around 1.3449 as the nearest structural cap above.
Support: 1.3369, 1.33495, 1.3300
Resistance: 1.33958, 1.3406, 1.3449
What it said to watch
Hourly closes back above the 1.33958 ema20 and then the 1.3406 day high would break the run of lower highs
Failure to hold the 1.33495 week low confirms continuation and shifts focus toward the 1.3300 round number
UK Retail Sales Friday 06:00 GMT is the first hard growth read after the hold and could reset this range
Loss of the 1.3369 shelf low again without an immediate recovery would invalidate the false-break read
Lower highs from 1.3461; post-break range 1.3369-1.3406 with a failed probe below.
The dominant move of the week was the single-hour collapse from 1.3461 through 1.3380 on Wednesday's Fed hike, and price has spent the two sessions since compressing between the 1.3369 range floor and the 1.3406 range top. In the BoE decision hour today cable was driven down to a 1.33495 session low before the entire move was recovered inside the same bar, leaving price back on the EMA(20) around 1.3384. RSI(14) has recovered from the mid-30s to the high-40s while lows have stopped extending, so downside momentum has flattened without any reclaim of broken structure at 1.3445.
Support: 1.3369, 1.33495, 1.3300
Resistance: 1.3406, 1.3445
What it said to watch
UK Retail Sales Friday 06:00 GMT is the first hard growth read after the BoE hold and can reset this range
An hourly close above the 1.3406 range top would end the sequence of lower highs, with 1.3445 pre-fed low the next reference
Acceptance below the 1.33495 session low re-opens the 1.3350/1.3300 psych area
Loss of the 1.3369 range floor on a closing basis confirms continuation of the lower-low sequence
13:01 UTC
Downtrend, fresh leg lower · RSI 41 · price 1.33702
Lower highs and lower lows; day range broken to the downside.
GBPUSD has printed lower highs and lower lows in every session of this window, and the in-line 6-3 BoE hold at 3.75% gave sterling nothing to work with against a dollar still firm after the Fed's hike. The 1.3370-1.3404 consolidation of the past day broke lower during NY hours, the day high at 1.34042 capping the last attempt higher before the move extended to a session low at 1.33495 and closed off it. Price sits below the ema20 near 1.3390 with RSI(14) around 40 and no divergence against the new low yet.
Support: 1.33495, 1.3330
Resistance: 1.3390, 1.34042, 1.34446
What it said to watch
Acceptance below the 1.33495 session low exposes the 1.33300 round number
An H1 close back above the ema20 near 1.3390 would soften the range break read
Failure to reclaim the day high at 1.34042 keeps the lower-highs sequence intact, with the broken low at 1.34446 the next shelf above
UK Retail Sales Friday 06:00 GMT (-0.2% m/m forecast) is the next scheduled catalyst for this read
13:01 UTC
Downtrend, fresh leg lower · RSI 42 · price 1.33702
Lower highs and lower lows; range break to the downside.
Every session since Monday's open has printed a lower high, with the decisive leg coming in the NY session on Wednesday when price sliced from 1.3449 to 1.3381 in a single hour on the hawkish Fed hike and the DXY hold above 100.00. Since then price has consolidated 1.3370-1.3406, and the in-line 6-3 BoE hold gave Sterling no fresh fuel — the latest hour broke that range, tagging a session low at 1.33495 before closing at 1.3370. Price remains pinned under EMA20 near 1.3385 with RSI(14) in the low 40s, having failed to reclaim 50 during the two-day consolidation.
Support: 1.33495, 1.3330
Resistance: 1.3385, 1.3406, 1.34485
What it said to watch
Hourly closes back above the day high at 1.3406 would invalidate the range break read
Failure to hold 1.33495 session low opens the path toward the 1.333 round number
UK Retail Sales Friday 06:00 GMT (MoM f/c -0.2%) is the next scheduled catalyst for this structure
Reclaiming EMA20 at 1.3385 is the first sign the two-day consolidation is still intact
Lower highs and lower lows; Thursday consolidation broken to a new week low.
Cable has ground lower since Monday's session high at 1.3528, and Wednesday's NY-hours Fed hike broke the sequence with an 80-pip hourly candle straight through 1.3400. Thursday's Asia-into-London consolidation between 1.3369 and the 1.34060 day high failed on the BoE hour: the in-line 3.75% hold with the expected 6-3 vote split saw a spike to a new week low at 1.33495 before a 1.33669 close, back beneath the 1.33970 ema20 with the ema50 at 1.34290 well overhead. RSI(14) at 31 rolled over again without the bounce reaching 50, so every pullback this week has stalled below the falling averages.
Support: 1.33495, 1.3300
Resistance: 1.3397, 1.3406, 1.3429
What it said to watch
An hourly close back above the 1.33970 ema20 would question the lower-highs sequence that has held since Monday
US jobless claims and Philly Fed at 12:30 UTC land inside the next bar and can extend or reverse the 1.33495 week low probe
Failure to recover Wednesday's 1.3372 shelf leaves the week low exposed with the 1.33000 round number the next reference
UK Retail Sales Fri 06:00 GMT is the next scheduled test of this structure
12:01 UTC
Downtrend, extending to new week lows · RSI 42 · price 1.33669
Lower highs and lower lows; Wed-Thu consolidation base broken on the BoE bar.
Cable has ground lower all week from Monday's 1.3535 high, with the decisive leg arriving in the NY session Wednesday when the hawkish Fed hike drove an 80-pip hourly candle from the 1.34485 pre-fed base straight through 1.3400. Thursday's European hours rebuilt to a 1.34060 day high, but the BoE hold bar was sold aggressively to a fresh session low at 1.33495 before closing back at 1.33669. Price is below the 1.3388 ema20 and well under EMA(50), with RSI(14) back near 42 after stalling at the 50 line on each of this week's bounces.
Support: 1.33495, 1.3330
Resistance: 1.3388, 1.3406, 1.34485
What it said to watch
US jobless claims and Philly Fed at 12:30 UTC fall inside the next H1 bar — the immediate risk to this read
An H1 close back above the 1.34060 day high would invalidate the break of the consolidation base
Failure to reclaim the 1.3388 ema20 keeps the lower highs sequence intact; sustained trade below 1.33495 opens the 1.3300 psych area
Lower highs into a flat base after Wednesday's impulse down.
Cable has trended lower all week from Sunday's 1.3518 open, with the decisive leg an 80-pip slide in the late NY session on Wednesday — a dollar-led move consistent with the broad USD bid in the macro read rather than anything sterling-specific. Since then price has built a flat base between 1.3369 and the 1.3406 range top, with the last bar rejecting 1.3406 and closing back below a flattening EMA(20) near 1.3389. RSI(14) has recovered from oversold to the mid-40s without price making a higher high, so the recovery so far is corrective within the downtrend.
Support: 1.3369, 1.3350
Resistance: 1.3406, 1.3389, 1.3445
What it said to watch
An H1 close above the 1.3406 range top would break the lower-high sequence and put the 1.3445 prior low back in play
Failure to hold 1.3369 base low confirms a lower-low and exposes the 1.3350 psych area
Price repeatedly capped at the ema20 keeps the consolidation read intact
US inflation data during NY hours is the main event risk that could reset this range