21:03 UTC
Downtrend since August, basing above October low · RSI 55 · price 1.33235
Lower highs from 1.3675; 1.3137–1.3419 range with a higher low at 1.3272.
Cable has printed lower highs and lower lows since the 1.3675 August high, and the mid-September break below 1.3480 carried the slide to the 1.3137 oct low. The rebound from there met rejection at the 1.3419 oct high, between the 38.2% and 50% retracement of the Aug high–Oct low leg. This week's four-session pullback, through the Fed hold and the US GDP beat, held a higher low at 1.3272. Price is back above EMA(20) but still below a falling EMA(50) near 1.3360.
Support: 1.3272, 1.3180, 1.3137
Resistance: 1.3360, 1.3419, 1.3568
What it said to watch
- Daily close above the ema50 near 1.3360 and the 1.3419 oct high would break the lower-high chain from August and open the 1.3568 sep high
- Downtrend line from the August high sits near 1.3390; a close above it marks a structural shift
- Failure to hold the 1.3272 higher low exposes the 1.3180 range floor and the 1.3137 oct low
- BoE decision, vote split and MPR on Nov 5 could materially shift this read; Friday's US ECI also carries USD risk