21:01 UTC
Downtrend, momentum easing near lows · RSI 44 · price 1.31921
Lower highs and lower lows, consolidating above YTD low.
Cable has carved a clean sequence of lower highs and lower lows since the mid-month break beneath 1.3400, with disappointing UK PMIs (Services 48.7 vs 50) undercutting the BoE story and dragging price to multi-month lows. Price is now consolidating in a 1.3140–1.3232 band just above the YTD low, trading below both EMA20 and EMA50. ATR(14) is holding a steady ~24-pip regime as the market coils ahead of UK GDP.
Support: 1.3140, 1.3110
Resistance: 1.3232, 1.3245
What it said to watch
- H4 close below 1.3140 confirms a fresh lower-low, opening 1.3110 then the 1.30 area
- Reclaim of 1.3245 needed to neutralise the lower-high structure
- UK GDP Tue 06:00 UTC could materially shift this read