21:02 UTC
Reversal higher, extending off 10-month low · RSI 68 · price 1.33266
Higher highs and higher lows since the 1.3137 sweep, holding above the former range top.
The two-week 1.318–1.331 range resolved with a false break to the 1.3137 10-month low. A sharp reversal followed, driven by across-the-board UK data beats and a USD that failed to rally on hot US prints, and it carried price through the 1.3265 breakout area and the 1.3311 range top. Price was rejected at the 1.3371 swing high but is holding above the range top. The higher-lows line off the sweep is intact, and ATR has expanded to roughly 36 pips as the move trends.
Support: 1.3311, 1.3265, 1.3137
Resistance: 1.3371, 1.3400, 1.3435
What it said to watch
- H4 close back below the 1.3311 range top would weaken the range break read
- Failure to hold the 1.3265 breakout area, near the 38.2% fib of the sweep rally, would put the outside reversal in doubt
- A close above the 1.3371 swing high opens the 1.3400 round number and the 1.3435 res zone
- UK labour data Tue 06:00 UTC and UK CPI Wed 06:00 UTC could materially shift this read
- Break of the higher-lows trendline would end the post-sweep sequence