Lower highs and lower lows since Thursday's high, pressing week low.
Price has printed lower highs and lower lows since Thursday's 1.3419 London high and has slipped from the 1.3370 weekly open. London hours drove the Monday and Tuesday declines as USD was bid ahead of Wednesday's UK Budget and FOMC. Tuesday's NY bounce met rejection at the 1.3334 Tuesday high, near the 38.2% retrace of the week's drop and the lower-high trendline. Price now sits below the 1.3314 EMA(20) and EMA(50), pressing the 1.3302 week low, with RSI(14) near 39 and not yet oversold.
Support: 1.3302, 1.3275
Resistance: 1.3314, 1.3334, 1.3359
What it said to watch
H1 close above the 1.3334 Tuesday high and the lower-high trendline would break the lower-high sequence; Monday's 1.3359 lower high is the next pivot above
Sustained trade back above the 1.3314 EMA(20) would mark the first reclaim since Monday's London session
Failure to hold the 1.3302 week low and 1.3300 opens the lower zone at 1.3250–1.3275
UK Budget (Wed ~10:00 UTC) and the FOMC decision (18:00 UTC) could materially shift this read
Lower highs and lower lows from the 1.3419 high, pressing week low.
GBPUSD has printed successive lower highs since Thursday's London-session spike to the 1.3419 five-week high. Monday's NY session cut to 1.3327, Tuesday's London session extended to 1.3307, and late NY Tuesday set a new week low at 1.3302. Firm US Durables and Consumer Confidence plus pre-Fed USD demand have driven the slide, and price now sits below the 1.3319 EMA(20) and the weekly open at 1.3370. The Tuesday high at 1.3334 marks the latest lower high, and RSI(14) near 38 is soft but not stretched. The 1.3290 range floor below is the next reference.
Support: 1.33022, 1.3290
Resistance: 1.3319, 1.33342, 1.33697
What it said to watch
H1 close above the lower-highs trendline and the 1.3334 Tue high breaks the lower-high sequence
Failure to hold the 1.3302 week low and the 1.3290 range floor exposes the 1.3250–1.3275 area
UK Autumn Budget Wed ~10:00 UTC; any headroom erosion or gilt-supply overshoot could extend the slide
FOMC decision 18:00 UTC Wed and Powell at 18:30 UTC; a neutral tone could lift price back toward the ema20 and the 38.2% fib near 1.3347
Recovery back above the weekly open at 1.3370 would negate the week's downtrend read
Lower highs and lower lows since Monday's Asia peak, descending trendline capping.
Cable has printed lower highs since Monday's Asia peak at 1.3387, with London driving both legs lower. The first hour of NY on Tuesday met rejection at 1.3334, under the lower-high trendline. Price sits below EMA(20) near 1.3322 and at a fresh week low of 1.3303 just above the 1.3300 round number, a USD-led slide on firm US Durable Goods and Consumer Confidence plus pre-FOMC short-covering, while RSI(14) near 37 holds above its Tuesday-morning trough for a mild bullish divergence.
Support: 1.33027, 1.3300
Resistance: 1.3322, 1.33342, 1.33697
What it said to watch
H1 close above the tuesday high at 1.3334, also the 38.2% fib of the week's decline, breaks the lower-high trendline sequence
Sustained trade below the 1.3300 round number extends the downtrend through the week low
Recovery to the weekly open at 1.3370 would neutralise this week's decline
UK Budget (Wed 10:00 UTC) and FOMC (Wed 18:00 UTC) could materially shift this read
Lower highs and lower lows since Thursday's 1.3419 peak; price below EMA20.
GBP/USD has printed lower highs since Thursday's London-open peak at 1.3419. The 1.3370 weekly open has capped price since Monday's NY session broke below 1.3330. Tuesday's NY session set a new week low at 1.3305 as firm US data (durables +1.8%, CB confidence 91.7) and pre-Budget, pre-FOMC caution lifted the USD. Price now sits just below EMA(20) near 1.3324, with RSI(14) around 39 and the 1.3334 lower high aligned with the 38.2% fib of the week's decline.
Support: 1.33045, 1.3300
Resistance: 1.33235, 1.33342, 1.33697
What it said to watch
H1 close above the 1.3334 lower high and 38.2% fib would break the lower-high sequence and the lower-high line
Failure to hold the 1.3305 week low and the 1.3300 round number would extend the lower-low sequence toward the 1.3250–1.3275 area
Recovery above the 1.3370 weekly open would neutralise this week's downtrend read
UK Budget (Wed 10:00 UTC) and FOMC decision (Wed 18:00 UTC) could materially shift this read
Lower highs and lower lows since Thursday's peak, week low just set.
Since Thursday's 1.3419 high the pair has printed a clean sequence of lower highs. The week opened at 1.3370, and both Monday's and Tuesday's legs lower started in London and extended into NY. Tuesday's bounce stalled at the 1.3334 Tue high near the 23.6% retracement, then firm US durables and confidence data pushed price to a new week low at 1.3305. Price sits below EMA(20) and EMA(50), with RSI(14) near 38, soft but not oversold, and 1.3290 range floor is the next reference below.
Support: 1.3305, 1.3290
Resistance: 1.3334, 1.3348, 1.3370
What it said to watch
Hourly close below the 1.3305 week low extends the lower-low sequence toward the 1.3290 range floor
Close above the 1.3334 Tue high breaks the lower-highs trendline; the 38.2% fib at 1.3348 is the next cap
Reclaim of the 1.3370 weekly open would negate this week's downtrend structure
UK Budget Wed 10:00 UTC and FOMC Wed 18:00 UTC could materially shift this read
Lower highs and lower lows since the Oct 22 high; price pressing the week low.
Lower highs have stacked since the Oct 22 five-week high at 1.3419. This week's slide from the 1.3370 weekly open extended in Monday's NY session and again through Tuesday's London session, reaching a 1.3305 week low as pre-FOMC USD short-covering and a Durable Goods beat (1.8% vs 0.6%) kept the dollar bid. Tuesday's NY bounce met rejection at 1.3334, just under the 38.2% fib, and price now sits below the ema20 near 1.3322 and EMA50, with RSI(14) near 33.
Support: 1.33045, 1.3300
Resistance: 1.3322, 1.33342, 1.33697
What it said to watch
H1 close above 1.3334 (38.2% fib) breaks the lower-high trendline and the sequence of lower highs
Failure to hold the 1.3305 week low opens the 1.3300 round number
Repeated H1 rejection under the ema20 near 1.3322 keeps the downtrend structure intact; recovery of the 1.3370 weekly open negates it
UK Budget (Wed 10:00 UTC) and FOMC (Wed 18:00 UTC) could materially shift this read
Lower highs and lower lows since Monday's Asia high, under a falling trendline.
Since Monday's Asia peak at 1.3387, GBPUSD has stepped down through successive lower highs, holding below the 1.3370 weekly open. London drove Monday's break and the NY session extended it, as USD shorts were squared ahead of Wednesday's Fed decision. Today, firm US durables and CB confidence data capped the NY bounce at 1.3334, another lower high under the falling trendline and near the 38.2% of the week's decline. Price then set a fresh week low at 1.3305, sits below EMA(20) near 1.3324, and RSI(14) is holding in the low-to-mid 30s.
Support: 1.33045, 1.3300, 1.3290
Resistance: 1.3324, 1.33342, 1.33697
What it said to watch
H1 close above the 1.3334 lower high and the falling trendline breaks the lower-high sequence and the 38.2% fib cap
Failure to hold the 1.3305 week low exposes the 1.3300 round number and the 1.3290 range floor
Recovery toward the 1.3370 weekly open would neutralise this week's downtrend read
UK Budget Wed ~10:00 UTC and FOMC Wed 18:00 UTC could materially shift this read
GBPUSD has printed lower highs and lower lows since Thursday's London-open high at 1.3419. Monday's NY session and Tuesday's London session drove the latest legs down to a week low at 1.3307, with USD bid on firm durables and consumer confidence data. The NY bounce stalled at 1.3334, the Tuesday high near the 23.6% retracement and just under the lower-high trendline, while price holds below EMA(20) with RSI(14) in the mid-30s and the weekly open at 1.3370 well overhead.
Support: 1.3307, 1.3290
Resistance: 1.3334, 1.3350, 1.3370
What it said to watch
H1 close below the 1.3307 week low extends the lower-low sequence toward the 1.3290 range floor
Close above the 1.3334 Tue high and the lower-high trendline would break the sequence; the 38.2% fib at 1.3350 is the next reference
Recovery back through the 1.3370 weekly open would neutralise this week's decline
UK Budget (~10:00 UTC Wed) and FOMC (18:00 UTC Wed) could materially shift this read
Lower highs and lower lows since Thursday's 1.3419 high.
GBPUSD has printed a sequence of lower highs since Thursday's 1.3419 week high. Monday's London and NY sessions took price below the 1.3370 weekly open, and today's London session set a fresh week low at 1.3307 as USD short-covering into FOMC extended. A recovery to a 1.3334 lower high stalled at the falling trendline, the EMA(20) near 1.3331 and just under the 38.2% fib of Monday's drop. It then faded after the firm US durable goods print, leaving price capped beneath the broken 1.3327 Monday low with RSI(14) near 38.
Support: 1.3307, 1.3300
Resistance: 1.3327, 1.3334, 1.3370
What it said to watch
H1 close above the 1.3334 lower high and falling trendline would break the lower-high sequence and bring the 1.3347 50% fib of the Monday drop into view
Holding below the 1.3327 Monday low keeps it acting as resistance on any bounce
Failure to hold the 1.3307 week low exposes the 1.3300 round number and the 1.3290 range floor flagged in the macro digest
Weekly open at 1.3370 is the reference for any broader recovery this week
UK Budget (Wed 10:00 UTC) and FOMC decision (Wed 18:00 UTC) could materially shift this read
Lower highs and lower lows since Thursday's 1.3419 peak.
Price has stepped lower from Thursday's London-open peak at 1.3419, opening the week at 1.3370 and dropping on Monday's London and NY opens as USD short-covering built into FOMC. Tuesday's London morning extended to a week low at 1.3307. The rebound stalled at 1.3334, where EMA(20) meets the 23.6% retracement of the Thursday–Tuesday drop, just under the 1.3340 broken support. With RSI(14) near 39 and price below both EMAs, the lower-high sequence remains in place.
Support: 1.3307, 1.3290
Resistance: 1.3334, 1.3359, 1.3370
What it said to watch
H1 close above the 1.3359 lower high breaks the lower-high sequence and the trendline, bringing the 1.3370 weekly open back into view
Failure to hold the 1.3307 week low extends the lower-low sequence toward and through the 1.3290 range floor
Repeated rejection at EMA(20) near 1.3334 keeps the lower-highs trendline intact
US Consumer Confidence at 14:00 UTC today is the last pre-Fed data check
UK Budget (Wed 10:00 UTC) and FOMC (Wed 18:00 UTC) could materially shift this read
Lower highs and lower lows since Thursday's five-week high.
Cable has stepped lower since Thursday's five-week high at 1.3419. Monday's push from the weekly open at 1.3370 failed, and dollar short-covering ahead of the FOMC drove the legs down. The first came in Monday's London-NY transition to the mon low at 1.3327, and the second in London today to a week low at 1.3307. The first hour of NY brought a bounce back above the mon low and a poke through the lower-highs trendline, but price still sits under the ema20 near 1.3340 with RSI(14) around 39.
Support: 1.33273, 1.33068, 1.3300
Resistance: 1.3340, 1.33588, 1.33697
What it said to watch
An H1 close above the ema20 near 1.3340 would confirm the lower-highs trendline break; the 1.3359 lower high from Monday's NY session is the next marker in the sequence
Slipping back under the mon low at 1.3327 and then the week low at 1.3307 resumes the lower-low sequence toward the 1.3300 round number
US Consumer Confidence at 14:00 UTC today, then the UK Budget (~10:00 UTC) and FOMC (18:00 UTC) on Wednesday, could materially shift this read
Lower highs since Monday Asia, fresh week low in Tuesday London.
GBPUSD has printed lower highs at 1.3387, 1.3359 and 1.3349 since the weekly open at 1.3370. Monday's London session drove the first leg and the NY open spiked to the monday low at 1.3327. Tuesday's London session broke below the Asia range and set a week low at 1.3307, leaving price under EMA(20) near 1.3330 and EMA(50). The digest attributes the slide to USD-short covering ahead of Wednesday's FOMC rather than GBP-specific selling, and RSI(14) near 32 is lifting off its low as the drop stalls just above the 1.3300 round number.
Support: 1.33068, 1.3300
Resistance: 1.33273, 1.33488, 1.33697
What it said to watch
H1 close back above the monday low at 1.3327 and the lower-highs trendline would neutralise the downtrend read
Failure to hold the week low at 1.3307 exposes the 1.3300 round number
Reclaiming the asia high at 1.3349 puts price back above the 38.2%–50% zone of the weekly drop (1.3338–1.3347)
A return above the weekly open at 1.3370 would erase this week's losses
US Durable Goods (12:30 UTC) and Consumer Confidence (14:00 UTC) today could move this read; the UK Budget and FOMC on Wednesday are the larger event risk
Lower highs and lower lows since Thursday's high; fresh week low below Monday's low.
Lower highs and lower lows since Thursday's London-open high at 1.3419. Tuesday's London session pushed through the 1.3327 monday low to a week low at 1.3307 as USD firmed into the FOMC. Price is below EMA(20) and EMA(50) with RSI(14) near 31, and each bounce has stalled at the descending lower-high line, most recently at 1.3349, in line with the 38.2% fib of the week's drop.
Support: 1.3307, 1.3300
Resistance: 1.3327, 1.3349, 1.3370
What it said to watch
H1 close back above the 1.3327 monday low would turn the break into a false break and bring 1.3349 back into view
Close below the 1.3300 round number extends the lower-low sequence beyond the 1.3307 week low
Recovery through the 1.3370 weekly open would break the lower-high line and invalidate the downtrend read
US Durable Goods (12:30 UTC) and Consumer Confidence (14:00 UTC) today, then the UK Budget and FOMC on Wednesday, could materially shift this read
Lower highs and lower lows from 1.3419; new week low at 1.3316.
GBPUSD has printed a sequence of lower highs since Thursday's 1.3419 five-week high. Today's slide into the London open took out the 1.3327 monday low and set a week low at 1.3316. The ema20, now near 1.3338, capped Monday's NY-session bounce and every recovery attempt since, while RSI(14) near 29 sits in oversold territory. Per the digest, the move is mostly USD-driven as dollar shorts were bought back ahead of Wednesday's UK Budget and FOMC.
Support: 1.3316, 1.3300
Resistance: 1.3327, 1.3338, 1.3370
What it said to watch
An H1 close back above the 1.3327 monday low and the ema20 near 1.3338 would break the lower-high line from Monday's Asia high
Acceptance below the 1.3316 week low exposes the 1.3300 round number
The 38.2% fib retracement of the 1.3419–1.3316 decline sits at 1.3355; reclaiming the 1.3370 weekly open (near the 50% fib) would neutralise this week's downtrend read
US Durable Goods (12:30 UTC) and Consumer Confidence (14:00 UTC) today, then the UK Budget and FOMC on Wednesday, could materially shift this read
Lower highs and lower lows since Thursday's 1.3419 peak.
GBP/USD has printed a run of lower highs and lower lows since Thursday's London-session peak at 1.3419. The week opened at 1.3370, and every NY-session bounce since has been capped below EMA(20), now near 1.3339. Pre-FOMC USD short-covering pushed price through Monday's 1.3327 low (mon low) into a fresh week low at 1.3316 after the London open. RSI(14) near 29 is holding above its reading at Monday's low, a mild bullish divergence against the lower low, with the 1.3300 round number just beneath.
Support: 1.3316, 1.3300
Resistance: 1.3327, 1.3339, 1.3370
What it said to watch
H1 close back above the 1.3327 mon low and EMA(20) near 1.3339 would break the lower-highs sequence
Failure to hold the 1.3316 week low exposes the 1.3300 round number
US Durable Goods (12:30 UTC) and Conference Board Consumer Confidence (14:00 UTC) today could shift the USD leg
UK Budget (10:00 UTC) and FOMC (18:00 UTC) on Wednesday could materially reset this read
Reclaiming the 1.3370 weekly open would neutralise most of the decline from Thursday's peak
Lower highs and lower lows define the decline from the 1.3419 Oct 22 high. Monday's London and NY sessions cut through 1.3330 from a 1.3370 weekly open, and Tuesday's Asian range into London open set a fresh week low at 1.3316 as USD short-covering ahead of FOMC weighed. Price holds below EMA(20) near 1.3337, where overnight pullbacks stalled, while RSI(14) near 29 sits above Monday's reading on a lower price low, a mild bullish divergence.
Support: 1.3316, 1.3300
Resistance: 1.3337, 1.3359, 1.3370
What it said to watch
An H1 close back above the 1.3337 ema20 and the lower-highs trendline would break the sequence of lower highs
Failure to hold the 1.3316 week low exposes the 1.3300 round number
A recovery through the 1.3359 swing high and 1.3370 weekly open, near the 50% fib of the Oct 22 high decline, would neutralise the downtrend read
US Durable Goods (12:30 UTC) and Conference Board confidence (14:00 UTC) today, then the UK Budget and FOMC on Wednesday, could materially shift this read
Lower highs and lower lows since Thursday's 1.3419 high.
Rejection from Thursday's 1.3419 five-week high has produced a clean week decline. Each rally since has capped at a lower high, the latest at 1.3359 on Monday, and price has held below EMA(20) since London on Monday. Monday's London-led drop through 1.3350 (spike to 1.3327) came on pre-FOMC USD short-covering rather than UK news. Asia and early London today broke the 1.3333–1.3359 range and printed a session low at 1.3324, below the monday low, with RSI(14) near 30.
Support: 1.33242, 1.3300
Resistance: 1.33273, 1.33588, 1.33697
What it said to watch
H1 close back above the 1.3327 monday low would mark the Asia break as a false break
Failure to hold the 1.3324 session low exposes the 1.3300 round number
A break of the lower highs trendline near 1.3350 and of the 1.3359 lower high would end the lower-high sequence; the 1.3370 weekly open sits above
US Durable Goods 12:30 UTC today, then the UK Budget and FOMC on Wed, could materially shift this read
38.2% retracement of the week decline near 1.3361 overlaps the lower high
Lower highs since Thursday's 1.3419 peak, retest of week low.
GBP/USD has printed a run of lower highs since Thursday's 1.3419 peak. Monday's London open broke below the 1.3370 week open, and the first hour of NY set the 1.3327 week low, driven by pre-FOMC USD short-covering rather than GBP weakness. The NY rebound stalled at the 1.3359 lower high, just shy of the 38.2% retracement of the Thursday–Monday decline, and price is now back at the week low into the London open, capped by a falling EMA(20) near 1.3344 with RSI(14) at 36, holding above Monday's trough of about 31.
Support: 1.33273, 1.3300
Resistance: 1.3344, 1.33588, 1.33697
What it said to watch
H1 close below the 1.3327 week low extends the lower-low sequence toward the 1.3300 round number
Recovery above the lower high at 1.3359 and the lower-high trendline breaks the sequence; the 1.3370 week open is the next reference
Holding back above the ema20 at 1.3344 would mark the first shift in the H1 pullback rhythm this week
US Durable Goods today at 12:30 UTC, then the UK Budget (10:00 UTC) and FOMC (18:00 UTC) on Wednesday, could materially shift this read
Lower highs since Thursday peak, tight Asia range above week low.
GBPUSD has printed lower highs since Thursday's 1.3419 London peak. Monday's London and early-NY selling took out last week's lows to a week low at 1.3327 as the dollar firmed into the FOMC. The NY high at 1.3359 stalled short of the 38.2% retrace of the Thursday-Monday drop, and the Asia session has compressed between 1.3333 and 1.3345 beneath EMA(20) with RSI(14) near 40, below the weekly open at 1.3370.
Support: 1.3333, 1.3327
Resistance: 1.3359, 1.3370, 1.3387
What it said to watch
H1 close above the 1.3359 ny high and the 1.3370 weekly open breaks the lower-high sequence
Failure to hold the 1.3333 asia low and 1.3327 week low extends the lower-low structure
Lower-highs trendline from Thursday's peak runs near the 1.3387 Monday high and has capped every rally
US durable goods 12:30 UTC today, then the UK Budget and FOMC on Wednesday, could materially shift this read
Lower highs from 1.3419; tight Asian range just above week low.
Highs have stepped lower since Thursday's London-open peak at 1.3419. Monday's London session broke Friday's 1.3361 floor and the NY open printed the week low at 1.3327 as USD shorts were trimmed into FOMC. The NY bounce stalled at the 1.3359 ny high, short of the 38.2% retrace of the Thursday–Monday drop, and price is now compressing in a tight Asian range just under EMA(20) near 1.3348 with RSI(14) around 42.
Support: 1.3333, 1.3327
Resistance: 1.3348, 1.3359, 1.3370
What it said to watch
H1 close above the 1.3359 ny high and the lower-highs trendline breaks the sequence; reclaiming the week open at 1.3370 opens the 61.8% retrace near 1.3384
Failure to hold the asian low at 1.3333 exposes the week low at 1.3327; a close below it extends the lower-low structure
US Durable Goods (12:30 UTC) and Consumer Confidence (14:00 UTC) today, then the UK Budget and FOMC on Wednesday, could materially shift this read
Lower highs and lower lows since Thursday's 1.3419 high, now compressing above the week low.
Thursday's London-open high at 1.3419 has given way to a sequence of lower highs as USD short-covering builds into Wednesday's FOMC. On Monday, London took the pair below the 1.3370 weekly open, and the slide extended to a 1.3327 week low into the NY open. The NY rebound stalled at 1.3359, short of the 38.2% retracement of the Thursday–Monday decline. In Asia, price is pinned between the 1.3333 Asia low and EMA(20) near 1.3343, sitting on the lower-highs line, with RSI(14) flat around 41 and range compressing.
Support: 1.33326, 1.33273, 1.3300
Resistance: 1.3343, 1.33588, 1.33697
What it said to watch
H1 close above the 1.3359 rebound high breaks the lower-highs line and opens the 38.2–50% retracement zone toward the 1.3370 weekly open
Failure to hold the 1.3333 Asia low and the 1.3327 week low extends the lower-low sequence toward the 1.3300 round number
Repeated H1 closes back above EMA(20) would mark the first shift in the pullback rhythm since Thursday
US Durable Goods (12:30 UTC) and Consumer Confidence (14:00 UTC) today could break the Asian compression
UK Budget (Wed 10:00 UTC) and the FOMC decision (Wed 18:00 UTC) could materially shift this read
02:02 UTC
Downtrend, pace slowing near lows · RSI 40 · price 1.33408
Lower highs and lower lows from Thursday's 1.3419 peak; tight Asian range above Monday low.
GBPUSD has made a sequence of lower highs since Thursday's London-session peak at 1.3419. Price slipped below the 1.3370 weekly open into Monday's London open, then printed the 1.3327 week low early in NY as USD short-covering ahead of the Fed extended the slide. Tuesday's Asian range is compressed at 1.3333–1.3349, capped by ema20 near 1.3346 and the 23.6% fib of the 1.3419–1.3327 decline, with RSI(14) holding around 40 and hourly ranges contracting to roughly 10 pips.
Support: 1.33326, 1.33273
Resistance: 1.3346, 1.33588, 1.33697
What it said to watch
Hourly close below the 1.3327 week low extends the lower-low sequence
Recovery above the 1.3359 lower high from Monday's NY session breaks the lower-highs trendline
Regaining the 1.3370 weekly open would neutralise this week's downtrend read
Failure to hold the 1.3333 asian low puts the week low back in focus
US Durable Goods at 12:30 UTC today, then Wednesday's UK Budget and FOMC, could materially shift this read
Lower highs and lower lows from the 1.3419 peak; basing just above the week low.
Each rally since Thursday's 1.3419 peak has stalled at a lower high (1.3407 Friday, 1.3387 in Monday's Asia session, 1.3359 in NY), and Monday's London session took price below the 1.3370 weekly open into a 1.3327 week low as USD shorts were covered ahead of FOMC. The NY bounce met rejection at 1.3359, just short of the 38.2% retracement of the Thursday–Monday leg, and price now sits below the H1 EMA20 near 1.3347, holding just above the late NY low at 1.3334, which lines up with the 1.3340 support level in market commentary.
Support: 1.33335, 1.33273
Resistance: 1.3347, 1.33588, 1.33697
What it said to watch
H1 close above the 1.3359 lower high breaks the lower-high sequence and reopens the 1.3370 weekly open
Failure to hold the 1.3327 week low extends the lower-low sequence
Reclaiming EMA20 near 1.3347 would mark the first shift in the intraday pullback rhythm
US Durable Goods (12:30 UTC) and Consumer Confidence (14:00 UTC) today could test the late NY low
UK Budget and FOMC on Wednesday could materially shift this read
Monday's London session broke the Wednesday–Friday 1.3355–1.3420 range lower as USD shorts were trimmed into Wednesday's FOMC, and a spike to the 1.3327 week low early in NY hours was quickly bought back. The rebound stalled at the 1.3359 lower high, a retest of the broken range floor near the 50% level of the Monday drop fib, with price still below EMA(20) at 1.3351 and EMA(50) near 1.3363. RSI(14) has recovered from ~29 to 43 without divergence, and the Asia session is holding above the 1.3334 asia low.
Support: 1.33335, 1.33273
Resistance: 1.3351, 1.33588, 1.33697
What it said to watch
Hourly close below the 1.3327 week low extends the lower-high sequence from last week's 1.3419 high
Close above the 1.3359 lower high and the 1.3370 weekly open, where the falling trendline also sits, would neutralise the range break
Sustained trade back above the ema20 at 1.3351 shifts the read toward a range rebuild
Failure to hold the 1.3334 asia low puts the week low back in play
US Durable Goods and Consumer Confidence today, then the UK Budget and FOMC on Wednesday, could materially shift this read