Cable spent the week in a clean downtrend, sliding from 1.3435 to Friday's 1.3163 low as a hawkish Fed pinned the dollar near 13-month highs. Price gapped lower into Monday's open but has since carved a rounded base, recovering back above EMA20 with RSI(14) near 55. The last NY session has been confined between 1.3240 and the 1.3273 week recovery high.
Support: 1.3240, 1.3184, 1.3160
Resistance: 1.3273, 1.3305
What it said to watch
H1 close above 1.3273 opens the path toward the 1.3305 range top
Failure to hold 1.3184 reopens the 1.3160 April low
UK & US flash PMIs Tue 13:45 UTC could materially shift this read
Sterling sold off ~1.25% this week into a 1.3163 low after the BoE's 7-2 hold trimmed hawkish hopes and a firm dollar pinned cable. Since the low buyers have stepped in to build higher lows, and price now holds above EMA20/EMA50 with RSI(14) cycling mid-50s. The 1.3273 day high caps the bounce; the broader 1.3305 resistance is the next reference into UK and US PMIs.
Support: 1.3216, 1.3163
Resistance: 1.3273, 1.3305
What it said to watch
H1 close above 1.3273 opens the path to the 1.3305 resistance
Failure to hold 1.3216 reopens the 1.3163 week low
UK + US flash PMIs Tue could materially shift this range read
Bounce off week low, consolidating below week high.
Cable sold off through last week into Friday's 1.3163 low, then gapped up and recovered on the Starmer-exit relief into Monday, lifting back above EMA20 and EMA50 and printing a week high at 1.3273. Price has since coiled in a tight 1.3240–1.3270 band with RSI(14) holding mid-range near 56, a clear loss of downside momentum after the impulsive decline. The 1.3163/1.3184 floor and the 1.3273 cap define this week's structure.
Support: 1.3210, 1.3184, 1.3163
Resistance: 1.32729, 1.3305
What it said to watch
UK S&P Global PMIs Tue 08:30 GMT could materially shift this read
Close above 1.3273 week high opens the path to the 1.3305 uob cap
Failure to hold the 1.3184 week low reopens the 1.3163 friday low
US PCE Friday is the dominant cross-asset catalyst for cable
22:01 UTC
Downtrend stalling, recovery off the lows · RSI 56 · price 1.32505
Higher lows building above the 1.3163 floor.
Cable opened the week with a weekend gap down to 1.3185 and slid to a 1.3163 floor before buyers reclaimed ground into the NY session, peaking at 1.3273 on Starmer-exit relief. Price has since stalled into a tight consolidation around 1.3250, holding above the H1 EMA(20) with RSI(14) cycling mid-50s. The 1.3170-1.3245 range that capped most of the week has flipped to support short-term, but a hawkish-Fed bid in USD keeps a lid above.
Support: 1.3220, 1.3185, 1.3163
Resistance: 1.3273, 1.3305
What it said to watch
Hourly close above 1.3273 opens the path back toward the 1.3305 cap
Loss of the 1.3163 range floor confirms a fresh lower-low
UK S&P Global PMIs Tue 08:30 GMT could materially shift this read
Sterling was sold hard through the week from Monday's 1.3435 high down to a weekly low at 1.3163, the bulk of the move on the hawkish-Fed-driven USD bid that overshadowed the Starmer-exit relief pop. A corrective bounce since has lifted price back above EMA20 and EMA50, with the last several bars consolidating tightly around 1.3245 below the 1.3273 swing high. RSI(14) has eased back toward neutral as the recovery stalls.
Support: 1.31894, 1.31629
Resistance: 1.32729, 1.3305
What it said to watch
Hourly close above 1.3273 swing high opens the path toward the 1.3305 range top
Failure to hold 1.3189 swing low reopens the 1.3163 weekly low
UK flash PMIs Tue 08:30 UTC and US flash PMIs Tue 13:45 UTC could materially shift this read
21:01 UTC
Downtrend, recovering off lows · RSI 57 · price 1.32495
Double bottom near 1.3170, retesting range top.
GBPUSD slid through the week from 1.3428 to a near three-month low at 1.3163 as the BoE's active hold and UK political noise weighed; the Starmer-resignation relief rally has since lifted price back to retest the 1.3245 range top. A double bottom near 1.3170 carved out the recovery, and price now holds above EMA20 with RSI(14) cycling back above 50. The 1.3245 cap has yet to give way decisively.
Support: 1.3245, 1.3230, 1.3163
Resistance: 1.3273, 1.3305
What it said to watch
H1 close above 1.3245 range top opens path toward 1.3305 resistance
Failure to hold 1.3230 EMA20 risks a retest of 1.3163 april low
UK flash PMIs 08:30 UTC and US flash PMIs 13:45 UTC Tue could materially shift this read
GBPUSD spent the week in a downtrend, sliding from 1.3434 to a near three-month low at 1.3163 before a weekend gap down opened Monday near 1.3184. A series of higher lows has lifted price back above EMA20 with RSI(14) recovering toward the mid-50s, and the NY session pushed to 1.3273 before stalling. Price now consolidates against the 1.3245 range top after Sterling firmed on the Starmer-exit relief move, with 1.3305 capping any extension.
Support: 1.3230, 1.3184, 1.3163
Resistance: 1.3273, 1.3305
What it said to watch
H1 close above 1.3273 opens the path toward 1.3305 resistance
Loss of 1.3184 monday low reopens the 1.3163 april low
UK flash PMIs Tue 08:30 UTC and US flash PMIs 13:45 UTC could materially shift this read
GBPUSD spent the week grinding lower from 1.3435, slipping below 1.3200 to test the late-March pivot near 1.3163 as a hawkish Fed outweighed firm UK data. A recovery leg into the NY session lifted price to 1.32729 before stalling under the 1.3245 range top, with RSI(14) cycling back to mid-range. Price now holds above EMA20 as a rounded base forms off the weekly low.
Support: 1.31894, 1.31629, 1.3160
Resistance: 1.32729, 1.3305
What it said to watch
H1 close above 1.32729 opens the path toward 1.3305
Failure to hold 1.31894 reopens the week low at 1.3163
UK S&P Global PMIs Tue 08:30 UTC and US PMIs 13:45 UTC could materially shift this read
Sterling shed ground for most of the week, with the dominant down impulse driving price into the 1.3160 late-March low despite the hawkish 7-2 BoE hold and firm UK data, as a hawkish Fed kept the dollar bid. The NY session has since powered a recovery off 1.3163, with a higher low at 1.3184 and a push to 1.3273 before pulling back to retest the 1.3245 range top. RSI(14) has cycled back above 50 and price holds above EMA(20) and EMA(50).
Support: 1.31834, 1.3160
Resistance: 1.3245, 1.32729
What it said to watch
H1 close above 1.3245 range top opens the 1.3273 week high and 1.3305 band
Failure to hold 1.3184 higher low reopens the 1.3160 week low
UK S&P Global PMIs Tue 08:30 UTC could materially shift this read
Cable shed roughly 1.25% across the week through the BoE's 7-2 hold and Labour leadership drama, basing near 1.3163 before recovering into the 1.3245 area. A weekend gap down to 1.3185 held as a higher low, and price has since reclaimed EMA(20) with RSI cycling back above 50. The 1.3273 session high capped the latest push; the broader sequence of lower highs from Monday's open is still intact.
Support: 1.3185, 1.3163
Resistance: 1.3273, 1.3305
What it said to watch
H1 close above 1.3305 range cap would flip the near-term tone
Failure to hold 1.3163 swing low opens the 1.3065/1.3000 zone
UK flash PMIs Tue 08:30 UTC could materially shift this read
18:01 UTC
Weekly downtrend, basing · RSI 55 · price 1.3245
Recovery off the lows after a multi-day decline.
Cable shed ground through the week, sliding from 1.3435 to a 1.3160 weekly low under a 13-month-high DXY and Labour leadership drama, before basing and recovering toward 1.3273. Price now sits just above EMA20 near 1.3225 with RSI(14) back into the mid-50s, having reclaimed the prior session range. The 1.3300/1.3305 cap remains the line that would flip the near-term tone.
Support: 1.3225, 1.3192, 1.3160
Resistance: 1.3273, 1.3305
What it said to watch
UK flash PMIs Tue 08:30 UTC could materially shift this read
H1 close above 1.3273 opens the path toward the 1.3305 cap
Failure to hold 1.3192 reopens the 1.3160 weekly low
Basing after weekly selloff, recovering off the lows.
Cable shed ground through the week, sliding from 1.3435 to a 1.3163 trough on a hawkish-Fed DXY at 13-month highs and UK leadership noise, even as BoE held hawkish and UK data ran hot. Price gapped lower into Monday's open then ground higher through the NY session to a 1.3273 session high before easing back to 1.3248. RSI(14) has lifted back to the mid-50s as the recovery holds above EMA(20).
Support: 1.3183, 1.3163
Resistance: 1.3273, 1.3305
What it said to watch
UK flash PMIs Tue 08:30 UTC could materially shift this read
Close above 1.3273 then 1.3305 range cap needed to flip the near-term tone
Loss of 1.3183 and a retest of 1.3163 week low reopens 1.3065
17:01 UTC
Downtrend, recovering off lows · RSI 57 · price 1.3248
Lower highs into 1.3160, base building since weekend gap.
Cable trended lower all week from Monday's 1.3429 area to a 1.3160 week low, pressured by a 13-month-high DXY and UK leadership noise despite firm UK data. Price opened with a weekend gap down near 1.3185 and has since clawed back through both H1 EMAs, tagging a 1.3272 day high before easing to 1.3248. RSI(14) has cycled back to the mid-50s as the decline stalls.
Support: 1.3185, 1.3160
Resistance: 1.3272, 1.3300
What it said to watch
UK flash PMIs Tue 08:30 UTC and US PMIs 13:45 UTC are the key near-term risk to this read
Failure to hold 1.3160 week low opens the path toward 1.3065
A close above 1.3300 cap is needed to flip the weekly downtrend tone
16:01 UTC
Downtrend this week, recovering · RSI 62 · price 1.32645
Lower lows into 1.3163, now retracing higher.
Cable fell roughly 1.25% to a near three-month low at 1.3163 by Friday on Fed hawkishness and UK political headlines, then gapped down at this week's open before recovering. Price has reclaimed the 1.3245 cap and is now pressing the 1.3273 session high with RSI cycling up near 62 and price holding above EMA20/50. The twin lows around 1.3163-1.3168 left a double-bottom base into the bounce.
Support: 1.3245, 1.3200, 1.3163
Resistance: 1.3273, 1.3300
What it said to watch
Close above 1.3300 would extend the recovery off the week low
Failure to hold 1.3245 reopens 1.3200 then the 1.3163 week low
UK and US flash PMIs Tue could materially shift this read
Cable opened the week near 1.3440 and sold off hard into Friday's near three-month low at 1.3163 as Fed hawkishness and UK politics weighed. Since the weekend gap, price has carved higher lows and reclaimed EMA20, lifting through the NY session to a day high at 1.32729 with RSI(14) recovering toward 61. The broader weekly structure is still a downtrend; this leg is a bounce holding above the 1.3192 swing low.
Support: 1.3220, 1.3192, 1.3163
Resistance: 1.32729, 1.3300
What it said to watch
Reclaim of 1.32729 day high opens the path toward 1.3300 prior high
Failure to hold the 1.3192 swing low reopens the 1.3163 weekly low
UK flash PMIs Tue 08:30 UTC could materially shift this read
15:01 UTC
Downtrend this week, recovering off lows · RSI 57 · price 1.32393
Lower highs into 1.3163 floor, now carving higher lows.
Cable lost roughly 1.25% this week as UK political turmoil around Starmer's resignation overwhelmed firm data and a hawkish Fed, bottoming near the 1.3163 March floor. Price has since clawed back above EMA(20) into NY hours, tagging 1.3273 before stalling. The 1.3300 area remains the cap that neutralised the bearish read, while higher lows off 1.3163 mark the only constructive structure on this TF.
Support: 1.3185, 1.3163
Resistance: 1.3273, 1.3300
What it said to watch
UK S&P Global PMIs Tue 08:30 GMT — first growth read of the new political phase, could reset the week's structure
H1 close above 1.3300 would neutralise the bearish trendline break
Loss of 1.3163 week low opens the path toward 1.3065
Cable spent the week grinding from Monday's 1.3443 high down to a 1.3163 base as UK leadership turmoil and a firm USD overwhelmed strong data. Price gapped lower into the new week then carved a double bottom near the March 1.3160 floor, with NY-session demand lifting it back above EMA(20) to 1.3258. The 1.3273 session high is capping the recovery, with the 1.3300 psych cap the heavier barrier above.
Support: 1.3185, 1.3160
Resistance: 1.3273, 1.3300
What it said to watch
H1 close above 1.3300 psych cap needed to neutralise the weekly downtrend read
Failure to hold 1.3185 mon open re-exposes the 1.3160 march low floor
UK S&P Global PMIs Tue 23 Jun 08:30 GMT could materially shift this read
14:01 UTC
Downtrend, bounce off the lows · RSI 61 · price 1.3258
Lower highs into a week low, recovering.
Cable bled lower through the week on the UK leadership crisis, sliding from 1.3443 to a 1.3163 week low that held above the March floor. Since Monday's open price has carved a rounded base near 1.319 and recovered through the NY session toward 1.3273, with RSI(14) lifting back above 60 and price reclaiming both EMA20 and EMA50. The 1.3300 cap from earlier in the week remains the line the recovery has to clear.
Support: 1.3185, 1.3163
Resistance: 1.3273, 1.3300
What it said to watch
H1 close above 1.3300 neutralises the lower-high sequence
Failure to hold 1.3163 march low opens the 1.3065 area
UK S&P Global PMIs Tue 08:30 GMT could materially shift this read
Cable spent the week grinding lower from 1.3443 to a 1.3163 swing low, with the sharpest legs coming after the BoE hold and on Labour leadership headlines that have pinned GBP near three-month lows. Price reopened with a weekend gap toward 1.3185 and has since clawed back above EMA(20) and EMA(50), RSI(14) recovering into the mid-50s. The 1.3253 session high caps the bounce; the broader structure of lower highs is still intact.
Support: 1.3184, 1.31629, 1.3159
Resistance: 1.3253, 1.3300
What it said to watch
Close above 1.3253 session high would extend the recovery toward the 1.3300 may trough
Failure to hold 1.3163 swing low exposes the 1.3159 march low and opens further downside
UK S&P Global PMIs Tue 08:30 UTC could materially shift this read
Cable gapped down into Monday's open near the weekly open at 1.3185 on UK political turmoil and has since clawed back above Friday's close. Last week's downtrend from 1.3437 remains dominant but the week low at 1.3163 has held; price now sits just above EMA20 with RSI cycling near 53. The session high at 1.3247 caps the recovery, with the May trough at 1.3300 the larger barrier.
Support: 1.3185, 1.3163
Resistance: 1.3247, 1.3300
What it said to watch
UK S&P Global PMIs Tue 08:30 UTC could materially shift this read
H1 close above 1.3300 needed to challenge the week's downtrend
Loss of 1.3163 confirms a lower low, opening 1.3065
Lower highs into a week low, recovering this session.
Cable sold off hard last week on UK political turmoil and a hawkish Fed, and gapped lower again into Monday's open near 1.3185 before buyers stepped in toward 1.3247. Price has reclaimed EMA(20) with RSI(14) recovering back through 50, but the rebound is only a shallow retrace of the 1.3443-1.3163 decline. The 1.3300 zone still caps the broader move lower.
Support: 1.31834, 1.31629
Resistance: 1.32475, 1.3300
What it said to watch
UK S&P Global PMIs Tue 08:30 GMT and Waller 13:00 UTC could shift this read
Failure to hold the 1.3163 week low opens 1.3065
H1 close back above 1.3300 needed to challenge the downtrend
12:01 UTC
Downtrend, consolidating off lows · RSI 53 · price 1.32344
Lower highs, week low holding.
Cable carried a clear downtrend through the week — from the 1.3443 high into the 1.3168 week low — as UK political turmoil and a hawkish, higher-for-longer Fed pressured the pair. Since the weekend gap into 1.3185 price has consolidated and edged back above its H1 EMAs, but the 1.3247 session high has capped the recovery and the broader lower-high structure is intact. RSI(14) has lifted back near 53 as the bounce matured.
Support: 1.3185, 1.3168
Resistance: 1.3247, 1.3300
What it said to watch
H1 close above 1.3247 would challenge the lower-high sequence; 1.3300 psych the next cap
Failure to hold the 1.3168 week low opens the 1.3065/1.3000 cluster
Waller speech 13:00 UTC and UK/US PMIs Tue 08:30/13:45 UTC are the nearest catalysts
Lower highs into a base; consolidating off the week low.
Cable trended lower through the week, with the dominant leg dragging price from the 1.3443 area down to a near-3-month low at 1.3159 as BoE's 'active hold' and UK political/fiscal headlines outweighed the strong retail sales beat. Price has since based and is consolidating 1.3183–1.3235, holding back above EMA(20) but capped under the 1.3235 gap-fill area and the EMA(50). RSI(14) has recovered to mid-range, easing the prior downside momentum without a structural break.
Support: 1.3183, 1.3159
Resistance: 1.3235, 1.3247, 1.3300
What it said to watch
H1 close above 1.3235 gap cap opens the path back toward 1.3300
Failure to hold 1.3183 swing low reopens the 1.3159 march low
UK Services/Mfg PMIs Tue 08:30 GMT — first clean post-BoE growth read could shift this base
11:01 UTC
Downtrend this week, basing · RSI 54 · price 1.32287
Lower lows into 1.3163, recovery off the base.
Cable shed roughly 150 pips since Thursday after the BoE's 7-2 'active hold' and UK political/fiscal headlines, with the dominant leg lower printing a near three-month low at 1.3163. Price has since based and clawed back above EMA20 toward 1.3230, but a recovered higher low near 1.3183 keeps the structure corrective under EMA50. RSI(14) has lifted off oversold into the mid-50s as the firm USD near 13-month highs caps rebounds.
Support: 1.3205, 1.31629
Resistance: 1.3253, 1.3300
What it said to watch
UK Services PMI vs 50 line Tue 08:30 GMT is the first clean post-BoE growth read and could shift this read
H1 close above 1.32530 prior high opens the path toward 1.3300
Failure to hold 1.31629 week low confirms a fresh lower-low
Selloff floored at 1.3163, ranging beneath descending highs.
Cable shed nearly 280 pips this week from 1.3443 into a 1.3163 floor as a BoE 'active hold' and Labour leadership turmoil met a firm USD near 13-month highs. A weekend gap down to 1.3185 was filled into a recovery that stalled at 1.3234, leaving price ranging below EMA(20)/EMA(50) with RSI(14) hovering mid-40s. The 1.3163 week low has held but rebounds keep capping under the descending highs.
Support: 1.3183, 1.3163
Resistance: 1.3234
What it said to watch
H1 close below 1.3163 confirms a lower-low and reopens the March-low zone
Reclaim of 1.3234 needed to challenge the descending highs
UK S&P Global PMIs Tue 08:30 GMT could materially shift this read
10:01 UTC
Downtrend, consolidating near lows · RSI 45 · price 1.32062
Lower highs and lower lows, basing above week low.
Cable has trended lower since Monday's open, with the dominant leg printed across the London-NY sessions as BoE's 'active hold' and UK political turmoil kept rebounds capped despite the strong retail beat. A weekend gap lower toward 1.3185 was partly filled, leaving price consolidating around the 1.3200 psych below both EMA(20) and EMA(50). The session high at 1.3234 has capped recovery attempts; the week low sits at 1.3163.
Support: 1.3200, 1.3183, 1.3163
Resistance: 1.3234, 1.3250
What it said to watch
UK S&P Global PMIs Tue 08:30 GMT could materially shift this read
H1 close below 1.3163 confirms a fresh lower low
Reclaim of 1.3234 session high would challenge the lower-high sequence
09:01 UTC
Downtrend, consolidating near lows · RSI 43 · price 1.31954
Lower highs, lower lows; basing above March low.
Cable has trended lower since Monday's ~1.3425 open, with the dominant leg coming in the NY session as UK political turmoil and a hawkish Fed pressed sterling through 1.3300 and 1.3250. The March low at 1.3163 was tested and held, prompting a bounce that stalled near 1.3240 before price drifted back toward 1.3195. RSI(14) sits in the low 40s and price remains pinned below EMA20 and EMA50, keeping the structure soft.
Support: 1.3163, 1.3192, 1.3065
Resistance: 1.3240, 1.3300
What it said to watch
Hourly close below 1.3163 confirms a lower-low and opens the path toward 1.3065
Reclaim of 1.3240 needed to challenge the lower-high sequence
UK S&P Global PMIs Tue 08:30 GMT could materially shift this read
Cable sold off steadily from Monday's 1.3443 to test the March low at 1.3159 by Thursday, pressed by UK political turmoil and a hawkish-Fed USD bid. Price has since consolidated in a tight 1.3190-1.3240 band, capped under EMA20 with RSI(14) cycling in the low-40s. The week low at 1.3163 remains the structural floor.
Support: 1.3163, 1.3159
Resistance: 1.3215, 1.3232
What it said to watch
Hourly close below 1.3159 confirms a lower-low, opens path toward 1.3065
Reclaim of 1.3232 and EMA20 needed to ease the lower-high sequence
UK S&P Global PMIs Tue 08:30 GMT could shift this read
Cable trended lower all week from Monday's 1.3424 open, accelerating Friday on UK political headlines and a firm USD before basing just above the 1.3163 March low. Price gapped down into Monday's open near 1.3185 and has since consolidated in a tight 1.3192–1.3236 band, holding under EMA20. RSI(14) is mid-range with momentum flattening as the down move pauses.
Support: 1.3163, 1.31927, 1.3065
Resistance: 1.32406, 1.3253
What it said to watch
H1 close below 1.3163 confirms a lower-low and opens 1.3065/1.3000
Reclaim of 1.3240/1.3253 lower-high zone needed to ease the downtrend
UK S&P Global PMIs Tue 08:30 GMT could break the consolidation
Cable trended lower all week from Monday's 1.3443 high, accelerating into Thursday's BoE active-hold and UK political turmoil before basing near the March/week low at 1.3163. A weekend gap down to 1.3185 has been partly filled, with price now consolidating around the 1.3200 handle and tracking just under EMA20; RSI(14) sits mid-40s after recovering from oversold. Lower highs remain intact and the wider downside skew is reinforced by a firm USD near 13-month highs.
Support: 1.3200, 1.3163
Resistance: 1.3237
What it said to watch
H1 close below 1.3163 confirms a lower low and opens the path toward 1.3065
Reclaim above 1.3237 weekly open needed to neutralise the lower-high sequence
UK Services PMI Tue 08:30 GMT could materially shift this read
07:01 UTC
Downtrend, consolidating near lows · RSI 45 · price 1.32075
Lower highs into a tight range above the week low.
Cable spent the week heavy, shedding roughly 1.25% from the 1.3443 area after the BoE's 7-2 active hold and a hawkish Fed anchored DXY near cycle highs; the sharpest leg lower came through the NY session midweek. Price has since stabilised in a tight 1.3185-1.3233 band into Monday's open, holding just above Friday's 1.3163 low with RSI(14) cycling mid-range. Price sits below both EMA(20) and EMA(50), with the recovery high at 1.3233 capping the bounce.
Support: 1.31844, 1.31629, 1.3159
Resistance: 1.32327
What it said to watch
UK S&P Global PMIs Tue 08:30 UTC could materially shift this read
Loss of 1.3163 confirms a fresh lower-low and opens the March low at 1.3159
H1 close above 1.3233 would neutralise the consolidation's lower-high structure
Cable opened the week near 1.3405 and sold off hard through the BoE 'active hold' and Fed hawkishness, carving a low at 1.3163 with steady lower highs. Since then price has based in the low 1.32s, with a thin weekend gap lower repaired into the 1.3207 area; RSI(14) has recovered toward neutral but EMA20 around 1.3215 still caps the bounce. The bounce off Friday's low is corrective within a heavy weekly tone.
Support: 1.3163, 1.3159, 1.3100
Resistance: 1.3215, 1.3240
What it said to watch
UK S&P Global PMIs Tue 08:30 UTC could materially shift this read
Break of 1.3163 confirms a lower-low and opens 1.3100/1.3000
H1 close above 1.3240 neutralises the lower-high sequence
Cable shed ground all week from 1.3443, with the dominant leg lower driven by USD near 13-month highs and the BoE's 7-2 'active hold'; the slide bottomed at the 1.3163 cycle low. A weekend down-gap reopened near 1.3185 and the corrective bounce has stalled around 1.3240, leaving price back near 1.3208 and pinned below EMA20 and EMA50. RSI(14) sits mid-range near 45, consistent with consolidation rather than a trend turn.
Support: 1.3163, 1.3065
Resistance: 1.3240, 1.3300, 1.3336
What it said to watch
Clean break of 1.3163 cycle low opens the path toward 1.3065
Hourly close above 1.3240 bounce high needed to challenge the 1.3300 may trough cap
UK S&P Global PMIs (Jun 23 08:30 UTC) are the next near-term catalyst
Cable has been in a clean H1 downtrend all week, shedding ~1.25% as a record-hawkish FOMC dot-plot and DXY near 13-month highs overwhelmed a strong UK retail sales beat and the BoE's active hold. Price carved a cycle low at 1.3163 Friday, bounced to the 1.3240 area, then gapped down into this week's open and is now trading near 1.3208 below both EMA(20) and EMA(50). The 1.3240 bounce high has capped attempts and rejection there keeps the path of least resistance lower.
Support: 1.3163, 1.3065
Resistance: 1.3240
What it said to watch
UK S&P Global Services PMI Jun 23 08:30 UTC is the primary near-term catalyst for this read
An H1 close below 1.3163 cycle low opens the 1.3065 socgen support
A reclaim and hold above 1.3240 bounce high would neutralise the lower-high sequence
Cable sold off hard through Friday after the BoE 'active hold' and a £23B borrowing overshoot, bottoming at 1.3163 before a weekend gap lower reopened near 1.3190. Price has since coiled in a tight 1.3190–1.3235 band, capped under EMA20 with RSI(14) flattening in the mid-40s. The bounce off 1.3163 reads corrective rather than a structural turn.
Support: 1.3190, 1.3163
Resistance: 1.3235
What it said to watch
H1 close below 1.3163 confirms continuation of the lower-low sequence toward the 1.3065/1.3000 zone
Reclaim of 1.3235 / EMA20 would neutralize the consolidation's downside lean
UK Services PMI Mon 08:30 UTC could materially shift this read
Downtrend intact since Monday's open; the dominant leg came Thursday around the BoE 'active hold', dragging cable to a near-three-month low at 1.3163. Price has since clawed into a corrective consolidation sub-1.3234, but sits below EMA20 with RSI(14) stuck in the mid-40s. The 1.3163 week low is the structural pivot for the move.
Support: 1.3163, 1.3100
Resistance: 1.3234
What it said to watch
H1 close below 1.3163 confirms a fresh lower-low, opening 1.3100
Reclaim of 1.3234 range top needed to neutralise the downtrend
UK Services PMI Mon 08:30 UTC could materially shift this read
Cable spent the week grinding lower from 1.3440 to a near-three-month low at 1.3163 after the BoE's 'active hold' and a firmer dollar, with the retail-sales beat ignored. Price has since carved a corrective bounce, opening Sunday with a small gap down to 1.3185 before recovering above EMA(20) toward 1.3224; RSI(14) has cycled back to neutral. The 1.3253 swing high still caps the rebound and lower highs from 1.3440 remain intact.
Support: 1.3163, 1.3185
Resistance: 1.3253, 1.3300
What it said to watch
H1 close below 1.3163 confirms a lower low, opening 1.3065/1.3000
Reclaim of 1.3253 then 1.3300 needed to neutralize the lower-high structure
UK S&P Global PMIs Mon 08:30 UTC could materially shift this read
Cable shed roughly 1.25% through the week as a 7-2 BoE 'active hold' and DXY at 13-month highs drove the move, bottoming at 1.3163 late Friday before a corrective bounce. Price gapped lower into this week's open then clawed back above EMA(20), with RSI(14) lifting off oversold and printing higher lows against the price low — a bullish divergence. The 1.3234 session high caps the recovery while EMA(50) near 1.3270 sits overhead as the next supply zone.
Support: 1.3163, 1.3185, 1.3120
Resistance: 1.3234, 1.3270, 1.3300
What it said to watch
H1 close above 1.3234 opens the path toward the 1.3270 EMA50 and 1.3300 May trough
Failure to hold 1.3185 reopens the 1.3163 week low and the 1.3120 zone below
UK Services PMI Mon 08:30 UTC (f/c 50.0) is the first key post-BoE read and could shift this bounce
Cable slid through the window from 1.3430 to a 1.3163 week low, the leg accelerating after Thursday's BoE hold and a hawkish Fed dot-plot lifted the dollar. The new week gapped down to the 1.3185 open and has since clawed back above 1.3200, but price holds below EMA20/EMA50 with RSI near 50 and the 1.3234 bounce cap unbroken. The structure stays a sequence of lower highs and lower lows.
Support: 1.3200, 1.31849, 1.31629
Resistance: 1.3234, 1.3300
What it said to watch
H1 close above 1.3234 bounce cap opens room toward the 1.3300 reclaim level
Failure to hold the 1.3185 weekly open exposes the 1.3163 week low
UK PMIs Tue 08:30 UTC could materially shift this read
Cable has trended lower all week from Monday's 1.3403 open down to a 1.3163 trough, as a hawkish-Fed USD bid and UK political risk overrode the BoE's hawkish hold and Friday's retail beat. Price is now basing in a 1.3185–1.3234 band after the weekend gap, with RSU(14) recovering off oversold toward the mid-40s and price pinned just under EMA(20). Lower highs since Monday remain intact.
Support: 1.3185, 1.3163, 1.3150
Resistance: 1.3234
What it said to watch
H1 close above 1.3234 session high challenges the descending lower-highs
Loss of 1.3163 week low exposes the 1.3150 March low
UK PMIs Tue 13:45 UTC could materially shift this read
Lower highs and lower lows, consolidating post-gap.
Cable has trended lower since Thursday, sliding from 1.3443 to a week low at 1.3163 as a hawkish Fed and the US growth story lifted the dollar despite the BoE's hawkish hold and a strong UK retail beat. Price gapped lower into this week's open then recovered to retest EMA(20) near 1.3222, with RSI(14) lifting off the lows. Resistance at 1.3253 has capped the bounce while the descending lower-highs from 1.3443 stay intact.
Support: 1.3163, 1.3150
Resistance: 1.3253
What it said to watch
H1 close above 1.3253 would break the descending lower-highs
Loss of 1.3163 week low exposes the 1.3150 March low
UK PMIs Tue 13:45 UTC could materially shift this read
02:01 UTC
Downtrend, attempting to stabilise · RSI 46 · price 1.32247
Lower highs and lower lows, now consolidating above 1.3200.
Cable has been in a clear downtrend since Monday's open, sliding from 1.3443 to fresh April lows near 1.3163 after the hawkish Fed dot-plot lifted the USD and UK political risk capped Sterling. Price opened the new session with a weekend gap lower before reclaiming the 1.3200 handle and pressing back to EMA20 around 1.3225, while RSI(14) has recovered off oversold toward the mid-40s. The 1.3253 swing and 1.3300 May trough remain the levels capping any recovery.
Support: 1.3200, 1.3163, 1.3065
Resistance: 1.3253, 1.3300, 1.3337
What it said to watch
S&P Global UK PMIs Tue 08:30 UTC and US PMIs 13:45 UTC could materially shift this read
Hourly close back below 1.3163 confirms a fresh lower-low and exposes 1.3065
Reclaiming 1.3300 would negate the broken trendline structure
01:01 UTC
Downtrend, attempting to stabilise · RSI 46 · price 1.32103
Lower highs / lower lows, basing near week low.
Cable has been in a clean downtrend since Tuesday's session, breaking lower from the 1.3443 high as a hawkish Fed and UK political risk (Burnham challenge) pressured Sterling despite a strong retail beat. Price found a base near 1.3163 late last week and has since recovered toward 1.3210; the weekend reopen gapped lower before grinding back up. Both EMA(20) and EMA(50) sit above price, and RSI(14) has lifted off oversold but stays sub-50, keeping the broader structure heavy.
Support: 1.3163, 1.3065, 1.3000
Resistance: 1.3235, 1.3300
What it said to watch
UK S&P Global PMIs Tue 13:45 UTC could materially shift this read
H1 close below 1.3163 confirms a lower-low, exposes 1.3065
Reclaim of 1.3235 then 1.3300 needed to negate the lower-highs structure
Cable slid to fresh April lows through Friday's NY session, the impulsive leg from 1.3443 stalling at the 1.3163 week low after the hawkish Fed dot-plot repricing dominated despite UK data beats. Price gapped lower into the new week and has based between 1.3185 and 1.3220, holding below EMA20 with RSI cycling back from oversold near 47. The 1.3240 swing high is the first cap; structure stays heavy below it.
Support: 1.3163, 1.3185
Resistance: 1.3240, 1.3300
What it said to watch
H1 close below 1.3163 week low exposes the 1.3065/1.3000 zone
Reclaim of 1.3240 swing high needed to ease the downside skew, then 1.3300
UK S&P Global PMIs Tue 13:45 UTC could materially shift this read
00:01 UTC
Downtrend, bounce off lows · RSI 44 · price 1.32087
Lower highs, lower lows; weekend gap down.
Cable trended lower all week, accelerating after Thursday's BoE hold as a firmer USD and UK political/fiscal headlines overrode a strong retail beat, printing a fresh low at 1.31629. Price gapped down into the new week's open near 1.3185 before steadying back toward 1.3208, still pinned below EMA20 and EMA50. Friday's 1.32527 high caps the rebound while supply holds the broader sequence of lower highs.
Support: 1.31629, 1.3150
Resistance: 1.32527
What it said to watch
Mon 08:30 UTC S&P Global flash PMIs could materially shift this read
H1 close below 1.3163/1.3150 confirms continuation and exposes lower
Reclaim of 1.32527 needed to challenge the descending lower-highs line
Cable has trended lower all week, sliding from 1.3443 toward fresh April lows near 1.3168 as a hawkish-Fed USD bid and UK political/fiscal risk overrode a strong UK retail beat and the BoE active hold. Price gapped lower into this session and is now consolidating around 1.3209, capped below EMA20 (~1.3225). The recovery off the week low has been shallow with RSI(14) idling near 47.
Support: 1.3168, 1.3150
Resistance: 1.3225, 1.3240
What it said to watch
H1 close below 1.3168 week low exposes 1.3150 march low
Reclaim of 1.3240 swing high needed to challenge the EMA20 cap
S&P Global flash PMIs (Mon 08:30 UTC) could materially shift this read