Lower highs since Monday's 1.3400 failure; 1.3300 support broken Wednesday.
The week opened at 1.3383 and stalled just under 1.3400 at Monday's NY open. Every rally since has formed a lower high, and selling in both London and NY on Tuesday led into Wednesday's range break through 1.3300. That break came during London on the soft UK services PMI, and the US PMI beat extended the move in NY to a 1.3223 week low. Price is now drifting about 20 pips above that low, below the ema20 near 1.3270, with RSI(14) near 30 after the NY bounce high at 1.3254 capped the recovery.
Support: 1.3223, 1.3200
Resistance: 1.3254, 1.3270, 1.3300
What it said to watch
H1 close back above the 1.3254 bounce high and the ema20 near 1.3270 would signal the lower-high sequence is stalling
1.3300 psych coincides with the 38.2% retracement of the week drop fib; rejection there would keep the lower highs trendline intact
Failure to hold the 1.3223 week low exposes the 1.3200 round number
BoE Breeden and Dhingra (09:30 GMT) and Lombardelli (14:00 GMT) on Thursday could materially shift this read if they push back on priced hikes
US Initial Jobless Claims at 12:30 UTC Thursday and Fed speakers Williams, Hammack and Paulson are USD-side risk for the NY session
22:01 UTC
Downtrend, pace stalling near lows · RSI 30 · price 1.32401
Lower highs each day since Monday; 1.3300 broken, tight base above week low.
Each day has printed a lower high since Monday's 1.3400 week high. Wednesday's leg ground lower from the Asia session through NY as blowout US PMIs and a soft UK services print pushed GBP through 1.3300 broken supp and the 1.3274 July low to a 1.3223 week low. Price has since stalled in a 1.3234–1.3254 band into the NY close, below EMA(20) near 1.3270, with RSI(14) near 30 and ATR contracting.
Support: 1.32234, 1.3200
Resistance: 1.3270, 1.3300, 1.33491
What it said to watch
An H1 close back above 1.3300 broken supp, near the 38.2% retracement of the week high-to-low drop at 1.3291, would challenge the lower-high sequence
EMA(20) at 1.3270 and the lower-highs trendline near 1.3276 sit together as the first cap; a rejection there keeps the downtrend intact
Failure to hold the 1.3223 week low exposes the 1.3200 round number
A reclaim of Tuesday's 1.3349 lower high would negate the week's lower-high structure
BoE's Breeden and Dhingra (09:30 GMT), US jobless claims (12:30 UTC) and Lombardelli (14:00 GMT) on Thursday could materially shift this read
20:01 UTC
Downtrend, extended and oversold · RSI 29 · price 1.32424
Lower highs since Monday's 1.3400 cap; Mon-Tue range broken lower.
Monday's push to 1.3400 was capped, and every rally since has printed lower highs. The Monday-Tuesday range gave way early Wednesday when the Tuesday low at 1.3321 broke. The dominant selling came in two legs: during London hours after the UK services PMI miss, then into the NY session as the US PMI beats lifted the dollar. The week low at 1.3223 printed late in NY with a long lower wick, and price is now consolidating near 1.3242, well below EMA(20) near 1.3280, with RSI(14) at 29.
Support: 1.32234, 1.3200
Resistance: 1.3280, 1.3300, 1.33212
What it said to watch
H1 close back above the ema20 near 1.3280 would mark the first break of the lower highs sequence
Recovery into 1.3291-1.3300 (38.2% fib of the week high-low drop and round number) is the area to watch for rejection or break
Failure to hold the 1.3223 week low extends the downtrend toward the 1.3200 psych level
Reclaiming the 1.3321 tuesday low would reopen the broken Mon-Tue range
Thursday's Fed Williams (08:10 UTC), BoE Breeden/Dhingra (09:30 GMT), US jobless claims (12:30 UTC) and BoE Lombardelli (14:00 GMT) could materially shift this read
19:01 UTC
Downtrend, extended after PMI leg · RSI 34 · price 1.32533
Lower highs and lower lows since Monday's 1.3400 top.
Cable has printed lower highs since Monday's rejection just under 1.3400, with the heaviest selling in London and NY hours on Tuesday and again today. Mixed-weak UK flash PMIs and blowout US PMIs pushed price through the 1.3300 round number and the 1.3274 july low to a 1.3223 session low before a late-NY bounce to 1.3253. Price trades below both EMA(20) and EMA(50), with RSI(14) lifting from sub-30 into the mid-30s.
Support: 1.32234, 1.3200
Resistance: 1.3274, 1.3300, 1.33212
What it said to watch
H1 close back above the 1.3274 july low and 1.3300 round number would mark a false break of the breakdown
Failure to hold the 1.3223 session low exposes the 1.3200 psych level
Recovery through the 1.3321 tuesday low would break the lower-high sequence; the 38.2% fib of the week's drop sits near 1.3291
Thu US jobless claims (12:30 UTC), Fed's Williams, and BoE Breeden/Dhingra/Lombardelli could materially shift this read
18:01 UTC
Downtrend, impulsive and stretched · RSI 19 · price 1.3231
Lower highs since Monday's 1.3400 week high, Mon–Tue range broken lower.
Cable has printed lower highs since Monday's 1.3400 week high. Wednesday's selloff broke the tue low at 1.3321 and the 1.3274 july low, with the London leg following the UK services PMI miss and the NY leg driven by the US PMI beat and a DXY push above 101.00. Price sits at the 1.3230 week low, below both EMAs, with RSI(14) near 19 and no bullish divergence yet. The lower-highs trendline from Tuesday and the 38.2% of the week's drop converge near 1.3300.
Support: 1.3230, 1.3200
Resistance: 1.3274, 1.3321, 1.3400
What it said to watch
H1 close back above the 1.3274 july low would mark the breakdown as failing
Break of the 1.3230 week low extends the lower-low sequence toward the 1.3200 round number
Reclaim of the 1.3321 tue low and the lower-highs trendline near 1.3300 invalidates the downtrend read, with the 1.3400 week high as the upper cap
BoE Breeden/Dhingra 09:30 GMT and Lombardelli 14:00 GMT Thu, plus US jobless claims 12:30 UTC, could materially shift this read
17:01 UTC
Downtrend, extended and oversold · RSI 21 · price 1.32502
Lower highs since Monday's 1.3400 week high; range broken lower.
Cable opened the week near 1.3383. It capped at the 1.3400 week high on Monday, then printed successive lower highs, with Tuesday's NY-session slide to 1.3321 marking the first break of the 1.3365–1.3400 range. Selling resumed from the Asia session today and extended through London after the soft UK services PMI. It accelerated in NY on the US PMI beat, taking price through the 1.3300 round number and the 1.3274 july low to a fresh week low at 1.3248. Price sits well below EMA(20) and EMA(50), with RSI(14) near 21, and each bounce has stalled under the lower-high trendline drawn from Tuesday's 1.3349 lower high.
Support: 1.3248, 1.3200
Resistance: 1.3274, 1.3300, 1.3349
What it said to watch
An H1 close back above the 1.3274 july low and the lower-high trendline would challenge the breakdown read
Reclaim of the 1.3300 round number, near the 38.2% level of the weekly fib from 1.3400, would signal a deeper correction toward the 1.3349 lower high
Failure to hold the 1.3248 week low with RSI still oversold keeps the 1.3200 psych level in view
BoE Breeden/Dhingra at 09:30 GMT and US jobless claims at 12:30 UTC Thursday could materially shift this read
15:01 UTC
Downtrend, oversold after a sharp extension · RSI 24 · price 1.32652
Lower highs and lower lows since Monday's 1.3400 week high, Tuesday low broken.
Lower highs have stepped down from Monday's 1.3400 week high and run along a lower-highs trendline. Today the 1.3321 tuesday low gave way in the Asia session, and the slide extended through London on the UK services PMI miss and into NY on the US PMI beat, printing a 1.3251 week low. Price sits well below EMA(20) and EMA(50) with RSI(14) near 24 oversold, while the broken 1.3274 july low and psych 1.3300 now sit overhead.
Support: 1.3251, 1.3200
Resistance: 1.3274, 1.3300, 1.3321
What it said to watch
H1 close back above the 1.3274 july low would mark today's break as a false break
Recovery through psych 1.3300, the lower-highs trendline and the 38.2% fib of the week's drop (~1.3308) breaks the lower-high sequence
Failure to hold the 1.3251 week low exposes the 1.3200 round number
A return above the 1.3321 tuesday low reopens the Monday–Tuesday range
BoE's Breeden/Dhingra (Thu 09:30 GMT) and US jobless claims (Thu 12:30 UTC) could materially shift this read
13:26 UTC
Downtrend, extended into oversold · RSI 23 · price 1.32737
Lower highs and lower lows since Monday's 1.3400 rejection.
Monday's 1.3400 test was rejected and each bounce since has printed a lower high, most recently 1.3349 in Tuesday's NY session. That session also drove the first leg down to 1.3321. Today's selling ground through Asia and London after the soft UK services PMI and the borrowing overshoot, with broad USD strength on Fed hike talk adding pressure. Price broke the 1.3300 former support and set a week low at 1.3263, and now sits at the july low near 1.3274, below EMA(20) since late Tuesday with RSI(14) oversold near 23.
Support: 1.3263, 1.3250
Resistance: 1.3274, 1.3300, 1.3349
What it said to watch
US flash PMIs at 13:45 UTC and Fed's Barr at 14:05 UTC could materially shift this read
H1 close back above 1.3300 former support, also near the lower-high trendline, would neutralise the breakdown
Sustained trade below the 1.3263 week low extends the lower-low sequence toward the 1.3250 round number
Failure to reclaim the 1.3274 july low keeps it acting as a cap
A rebound above the 1.3349 lower high would break the sequence. The 50% retracement of the Monday–Wednesday leg sits near 1.3332
BoE speakers Breeden and Dhingra Thu 09:30 GMT are the next GBP-side risk
Successive lower highs and lower lows since Monday's open.
Cable has trended lower all week from the 1.3383 Sunday open, with the dominant leg coming in the London session today as the flash services PMI miss (51.7 vs 52.0) added to yesterday's borrowing overshoot and a broadly bid USD. The 1.3300 handle gave way without a retest and price is now pressing the 1.3274 July low, printing 1.32741 on the latest bar; every pullback this week has stalled beneath EMA(20), which sits near 1.3317. RSI(14) at ~27 is oversold and the last three sessions show no positive divergence yet — declines are being led by price, not just momentum.
Support: 1.3274, 1.3250
Resistance: 1.3300, 1.3317, 1.3344
What it said to watch
An hourly close back above 1.3300 broken support would be the first break of the week's lower-high sequence
Failure to hold 1.3274 july low opens the 1.3250 psych area as the next reference
A higher low forming while RSI stays near 27 would set up rsi divergence not yet present
BoE's Breeden and Dhingra at 09:30 GMT Thursday, Lombardelli at 14:00, can materially shift this read
Successive lower highs and lower lows; the 1.3300 shelf has given way.
Cable has trended lower all week from the 1.3404 area, with every attempt back toward the prior shelf at 1.3343 capped and price now trading a full ~40 pips below EMA(20) at 1.3320. The decisive leg came in the London session today as the softer UK services flash PMI (51.7 vs 52.0) landed on top of an already firm Dollar from hawkish Fed rhetoric, taking out the 1.3300 psych level and printing 1.32793 at the close. RSI(14) near 21 is the most stretched reading of the window, but there is no divergence yet — each new low has been matched by a lower RSI trough.
Support: 1.3274, 1.3250
Resistance: 1.3300, 1.3320, 1.3343
What it said to watch
1.32794 sits just above the 1.3274 july low — sustained hourly closes below it extend the lower-low sequence toward the 1.3250 round number
An hourly close back above the 1.3300 psych level, and then EMA(20) at 1.3320, would be the first break in this week's lower-high chain
BoE speakers Thursday 09:30 GMT (Breeden, Dhingra) and Lombardelli 14:00 GMT can materially reset this read given how stretched RSI already is
Failure to hold 1.3300 on any recovery attempt confirms the prior shelf region 1.3343 as the next supply band
Sequence of lower highs and lower lows since Monday's open, no bullish reaction yet.
Cable has trended lower all week from the 1.3400 hard cap, and the London session slide accelerated after the UK flash services PMI miss at 51.7, printing a new week low at 1.32931 before closing back on the 1.3300 psych handle. Price has not closed above EMA(20) since the NY session on Monday, and every bounce attempt has been sold into a clean run of lower highs from 1.33869 down to 1.33491. RSI(14) near 27 is oversold but not yet diverging — lows are still being confirmed by fresh momentum lows.
Support: 1.3300, 1.32931, 1.3274
Resistance: 1.3320, 1.33831, 1.3400
What it said to watch
Sustained hourly acceptance below the 1.3300 psych level exposes the 1.3274 july low as the next reference
An hourly close back above EMA(20) near 1.3320 would break the lower-highs sequence
Reclaiming the 1.33831 weekly open would invalidate the week-long downtrend read
BoE speakers Thursday 09:30 GMT and US jobless claims are the near-term risks to this structure
Sequence of lower highs and lower lows since Monday's NY high.
Cable has printed a clean run of lower highs and lower lows since the 1.3400 week high made in Monday's NY session, with the two decisive legs coming in Tuesday's London and NY hours as the August borrowing overshoot met a firmly bid dollar on hawkish Fed rhetoric. Price has traded below the H1 EMA20 (~1.3322) for the whole of Tuesday and Wednesday, with the moving average now acting as the cap on every bounce attempt. The Asia session has ground out a new week low at 1.3300 — the round number widely flagged as the pivot — and RSI(14) near 29 is oversold without any divergence yet.
Support: 1.3300, 1.3274
Resistance: 1.3322, 1.3349, 1.3400
What it said to watch
A sustained H1 close below the 1.3300 round number exposes the July low at 1.3274
Reclaiming the EMA20 near 1.3322 and then the 1.3349 lower-highs line would break the downtrend sequence
UK flash services PMI and US flash PMIs at 13:45 UTC are the session's main structural risk to this read
A higher low above 1.3300 alongside flat RSI would set up bullish divergence
08:02 UTC
Downtrend, third session lower · RSI 36 · price 1.33147
Lower highs and lower lows, fresh week low.
GBPUSD has made lower highs every session since Monday's open, rolling over from the 1.3400 weekly cap and accelerating through Tuesday's London session as the UK borrowing overshoot met a hawkish-Fed dollar bid. The Asian session then broke Tuesday's 1.3323 shelf and extended to a new week low at 1.3308, leaving price beneath a declining ema20 around 1.3327. RSI(14) at 36 is at the low end of its weekly cycle without yet printing a higher low against the fresh price low.
Support: 1.3308, 1.3300, 1.3274
Resistance: 1.3327, 1.3349, 1.3400
What it said to watch
UK flash PMIs at 08:30 GMT land inside the next bar and are the dominant near-term risk to this read
A sustained hourly close below the 1.3300 psych level would extend the lower-low sequence toward the july low at 1.3274
Recovery of the 1.3349 prior day high would break the week's lower-highs structure
US flash PMIs at 13:45 UTC could re-price the dollar leg that has driven this move
Sequence of lower highs and lower lows, fresh week low on the latest bar.
Price has traded one-way lower from the weekly open at 1.33831, with every London and NY attempt higher capped beneath a descending line of lower highs — the 1.33491 prior high was the last of them. The August public borrowing miss and the hawkish-Fed repricing that pushed the dollar to seven-week highs framed the slide, and the latest bar has printed a fresh week low at 1.33106 with RSI(14) near 34 and price held below the H1 ema20 around 1.33310 since the Tuesday NY session. Ranges are compressing into the Asia-London handover, ATR(14) just under 12 pips, with the 1.33000 psych level the next reference below.
Support: 1.33106, 1.3300
Resistance: 1.3331, 1.33491, 1.33831
What it said to watch
Acceptance below the 1.33106 week low extends the lower-low sequence toward the 1.33000 psych level
An hourly close back above the ema20 at 1.33310 would be the first break in the lower-high chain; 1.33491 prior high is the level that validates it
UK flash PMIs at 08:30 GMT and US flash PMIs at 13:45 GMT can materially reset this read inside the next few bars
A recovery through the 1.33831 weekly open would invalidate the week's downtrend structure
Sequence of lower highs and lower lows; fresh window low.
Third straight session of lower closes, with the dominant leg coming in yesterday's London-NY window as hawkish Fed repricing lifted the dollar; the 1.33230 prior low gave way overnight and the Asia session printed a fresh window low at 1.33149. Price has traded under the EMA20 (~1.3332) since that NY break, with every bounce attempt capped at progressively lower highs from 1.33491. RSI(14) near 37 is soft but not yet at an extreme, consistent with a grind rather than a flush.
Support: 1.33149, 1.3300
Resistance: 1.3323, 1.3332, 1.33491
What it said to watch
UK flash PMIs at 08:30 GMT are the first domestic test of this leg and could materially shift the read
US flash PMIs at 13:45 GMT and Fed's Barr thereafter remain the larger swing factor for this pair
Hourly close back above 1.33230 prior low and the 1.3332 ema20 would break the lower-high sequence
Loss of 1.33149 session low puts the 1.3300 psych level in focus — zone to monitor for rejection or break
Price has traded on the underside of EMA(20) since the NY session on Tuesday, and the Asia session has just printed a fresh week low at 1.33153, taking out the prior low at 1.33212. The dominant leg of the week came in Tuesday's London-NY transition, where the bounce toward the prior high at 1.33461 was sold after the UK August borrowing overshoot, leaving the week high at 1.33999 and the 1.3400 cap untested since. RSI(14) sits near 33 with no bullish divergence yet as each lower low has been matched by a lower momentum reading.
Support: 1.33153, 1.33212, 1.3300
Resistance: 1.3334, 1.33461, 1.33999
What it said to watch
UK flash PMIs at 08:30 GMT and US flash PMIs at 13:45 UTC are the session's structural risk on both legs of the pair
An hourly close back above the prior high at 1.33461 would break the lower-highs sequence
Failure to reclaim ema20 near 1.33340 keeps the session low as the active reference
Acceptance below 1.33153 exposes the 1.3300 psych area
Lower highs and lower lows since Monday's London session, price pinned at the week low.
Since Monday's London high at 1.3400 the pair has carved a clean sequence of lower highs and lower lows, with the dominant leg coming in Tuesday's London-NY transition that took price to the week low at 1.3321 — a move driven by the USD side, with the Dollar at seven-week highs on hawkish Fed repricing while Tuesday's UK borrowing overshoot killed the 1.3387 bounce. Asia hours have drifted straight back into that low rather than building a base, and every pullback this week has stalled at or under EMA(20), now 1.3343. RSI(14) at 34 is soft but not yet at an extreme, matching the slow-bleed character of the last 24 bars.
Support: 1.3321, 1.3300
Resistance: 1.3343, 1.3387, 1.3400
What it said to watch
UK flash PMIs at 08:30 GMT and US flash PMIs at 13:45 UTC both land inside the next few bars and can reset this structure
Hourly close back above the ema20 at 1.3343, then the prior-day high at 1.3387, would break the lower-high sequence
Loss of the 1.3321 week low on a closing basis extends the downtrend toward the 1.3300 psych level
Repeated defence of 1.3321 without a reclaim of 1.3343 keeps price compressed in a narrow Asia range
Sequence of lower highs and lower lows, price pinned near the week low.
Since Monday's session open GBPUSD has traded a clean series of lower highs — 1.3400, 1.3387, then 1.3349 — with the dominant leg lower coming in the NY session on Tuesday, when the pair slid to the week low at 1.3321 on broad USD strength from hawkish Fed repricing rather than anything domestic. The bounce attempt into the Asia session stalled at 1.3349 (prior high) and price has since slipped back under EMA(20) near 1.3337, closing the latest bar at 1.3327. RSI(14) at ~35 has held slightly above its Tuesday trough while price retested the lows, a mild bullish divergence, but no structural break has occurred.
Support: 1.3321, 1.3300
Resistance: 1.3337, 1.3349, 1.3387
What it said to watch
An H1 close above 1.3349 would break the week's lower-high sequence; reclaiming EMA20 near 1.3337 is the first step
Failure to hold the 1.3321 week low confirms a lower low and exposes the 1.3300 round number
UK flash PMIs at 08:30 GMT and US flash PMIs at 13:45 GMT are the session's structural risks for this read
Repeated rejection at 1.3387 remains the cap on any broader recovery attempt
Series of lower highs and lower lows, now consolidating above the week low.
Price has traded below EMA(20) all of Tuesday, with the weekly open near 1.3383 never reclaimed after the early-Asia push to the prior-day high at 1.3387 was rejected — the UK August borrowing overshoot and a broadly firm USD did the damage into the NY session. The dominant move of the week is the slide from 1.3400 to the week low at 1.3323, printed in NY hours, and the Asian session since has only managed a shallow consolidation between 1.3336 and 1.3344. RSI(14) sits near 37 without a fresh momentum low against Tuesday's price low, so the downside impulse is flattening rather than extending.
Support: 1.3323, 1.3300
Resistance: 1.3347, 1.3366, 1.3387
What it said to watch
An hourly close back above the ema20 near 1.3347 and then the 1.3366 lower high would break the sequence of lower highs
Failure to hold 1.3323 week low exposes the 1.3300 round number
UK flash PMIs at 08:30 GMT and US flash PMIs at 13:45 GMT both land inside the next few bars and can reset this range
01:01 UTC
Downtrend, momentum fading into Asia · RSI 38 · price 1.33421
Series of lower highs and lower lows since Monday's open; last four bars compressing near the lows.
Price has ground lower all week beneath the 1.3400 psych cap, with each London and NY session printing a lower high — 1.33999 Monday, 1.33714 yesterday, then 1.33491 into the NY close. The dominant leg came in the NY session yesterday, where the dollar bid on hawkish Fed rhetoric and the £18.27B UK borrowing miss pushed Cable to a new week low at 1.33212 before a shallow recovery to 1.3342. Price sits below both EMA(20) and EMA(50) with RSI(14) near 38 and the Asian range holding a tight 4-pip coil into the open.
Support: 1.33212, 1.3300
Resistance: 1.33491, 1.33714, 1.3400
What it said to watch
UK flash PMIs at 08:30 GMT and US flash PMIs at 13:45 UTC fall inside the next bar period and can reset this range
Hourly close back above the 1.33491 prior high would break the lower-high sequence
Loss of the 1.33212 week low puts the 1.3300 round number in play as the next reference
Acceptance back above EMA(20) near 1.3348 would neutralise the downtrend read
Sequence of lower highs and lower lows since Monday's open; last four bars compressing above the week low.
Price has traded a clean series of lower highs from Monday's 1.33999 open-day high, with the dominant leg coming in the NY session yesterday as the dollar pressed to two-month highs on hawkish Fed rhetoric and August UK borrowing overshot forecasts — a 1.33212 week low printed in that move. The bounce since has stalled just under EMA(20) around 1.3348, leaving price below both EMA(20) and EMA(50) with RSI(14) recovering off oversold to the mid-30s. Asia hours have been thin and compressive, holding a 1.3336–1.3349 band, and 1.3400 remains the psych cap that has held on every approach this week.
Support: 1.33212, 1.3300
Resistance: 1.3348, 1.33584, 1.3400
What it said to watch
UK flash PMIs 08:30 GMT and US flash PMIs 13:45 UTC are the session's structural catalysts on this timeframe
Failure to hold 1.33212 confirms continuation of the lower-low sequence toward the 1.3300 psych level
H1 close back above the 1.33584 prior swing would break the lower-highs trendline and neutralise the downtrend read
Repeated closes under EMA(20) near 1.3348 keep the pullback contained