Cable extended a third straight session lower this week, sliding from 1.3443 to a fresh April low at 1.3163 as a hawkish Fed and UK political risk overrode the strong retail beat and hawkish BoE hold. Price gapped lower into the new week's open and is consolidating below the 1.3240 bounce cap, holding under both EMAs with RSI(14) in the low-40s. The descending run of lower highs stays intact while 1.3240 caps.
Support: 1.3163, 1.3150
Resistance: 1.3240
What it said to watch
H1 close below 1.3163 week low exposes 1.3150 march low and SocGen's 1.3065/1.3000 zone
Reclaim of 1.3240 bounce cap needed to question the downtrend
S&P Global flash PMIs Mon 08:30 UTC could materially shift this read
Cable slid for a third straight day to fresh April lows under 1.3200 as a hawkish Fed dot-plot and UK political/fiscal risk overrode the hawkish BoE hold and strong retail beat. Price has since steadied in a 1.3163-1.3230 range, holding below both EMA(20) and EMA(50), with RSI(14) lifting off lows but still sub-50. The 1.3230 session high has capped each bounce while the week low at 1.3163 has held.
Support: 1.31629, 1.3150
Resistance: 1.3230, 1.3280, 1.3300
What it said to watch
Mon 08:30 UTC S&P Global flash PMIs could materially shift this read
H1 close below 1.3150 confirms a lower-low, exposing 1.3065/1.3000
Reclaim of 1.3230 needed before 1.3300 resistance is in play
22:01 UTC
Downtrend, fresh April lows · RSI 43 · price 1.31959
Lower highs and lower lows, weekend gap down.
Cable spent the week grinding lower, sliding from 1.3443 to a fresh April low at 1.3163 as a hawkish BoE hold and a strong retail beat failed to offset USD strength and UK political risk. Price sits below EMA20 and EMA50 with RSI(14) capped in the low 40s; thin Sunday trade gapped the open down from 1.3228 toward 1.3192. The 1.3232 prior-high shelf has capped each bounce attempt this week.
Support: 1.31629, 1.3150, 1.3065
Resistance: 1.3232, 1.3300
What it said to watch
Loss of 1.31629 exposes 1.3150 march low, then 1.3065 projection
Reclaim of 1.32320 needed to challenge the 1.3300 may trough
Mon 08:30 UTC UK flash PMIs could materially shift this read
22:01 UTC
Downtrend, fresh April lows · RSI 39 · price 1.31959
Lower highs, lower lows after trendline break.
Cable extended a third straight day of losses to fresh April lows, slicing through the April ascending trendline as a hawkish Fed dot-plot lifted the USD and UK political/fiscal risk capped any sterling response to a strong retail beat. Price opened the new week with a gap lower to 1.3185 and is holding below both EMAs, with the Friday 1.3228 range now overhead. Demand stepped in near 1.3163 late Friday but the March low at 1.3159 remains the pivotal floor.
Support: 1.3159, 1.3163, 1.3065
Resistance: 1.3228
What it said to watch
H1 close below 1.3150 March low exposes 1.3065 then 1.2940
Reclaim of 1.3228 needed to neutralise the lower-high sequence
S&P Global flash PMIs Mon 08:30 UTC could materially shift this read
Cable slid for a third straight day to fresh April lows near 1.3168 after the hawkish Fed dot-plot repriced USD higher and UK political/fiscal risk overrode a hot retail beat and the hawkish BoE hold. Price has since stabilised, bouncing to 1.3240 before settling into a tight 1.3200–1.3240 range as RSI(14) lifts off oversold. The May-trough resistance at 1.3300 remains the cap on any recovery.
Support: 1.3200, 1.3168
Resistance: 1.3240, 1.3300
What it said to watch
H1 close above 1.3240 needed to challenge the 1.3300 may trough
Break of the 1.3168 april low exposes 1.3065 then 1.3000
Mon 08:30 UTC S&P Global flash PMIs could materially shift this read
Consolidation above fresh lows after impulsive selloff.
Cable fell for a third straight session to fresh April lows near 1.3163, the dominant leg lower triggered through the 1.3340 area after the hawkish Fed dot-plot lifted the USD and UK political/fiscal risk overrode a strong retail beat and the hawkish BoE hold. Price has since carved a tight consolidation between 1.3193 and 1.3253, reclaiming EMor(20) but capped below EMA(50). RSI(14) has lifted off its lows toward 43 as the slide pauses.
Support: 1.3163, 1.3193
Resistance: 1.3253, 1.3300
What it said to watch
H1 close below 1.3163 confirms a lower-low and exposes 1.3065/1.3000
Reclaim of 1.3253 would challenge the lower-high structure into 1.3300
Mon 08:30 UTC UK flash PMIs could materially shift this read