Cable is attempting to test and break through the 1.3316 support level on Tuesday, July 29, 2025.

Cable is attempting to test and break through the 1.3316 support level on Tuesday, July 29, 2025.

GBP/USD – Tuesday, July 29, 2025.

The Death Cross condition of the EMA (50) which is below EMA(200) and the neutral bearish RSI (14) indicates that the GBP/USD bearish bias remains. However, the appearance of divergence between the cable price movement and the RSI (14) indicator also warns of a potential strengthening retracement to the pivot level in the near future.

Key Levels

1. Resistance. 2 : 1.3486.

2. Resistance. 1 : 1.3419.

3. Pivot : 1.3383.

4. Support. 1 : 1.3316.

5. Support. 2 : 1.3280.

Tactical Scenario

Prone Pressure Zone: If the price breaks down and closes below 1.3316, it has the potential to continue weakening to 1.3280.

Momentum Extension Bias: If 1.3280 is successfully broken, then 1.3213 will be the next target if volatility and momentum support it.

Invalidation/Revision Bias Level

Downside bias is restrained if the price successfully breaks through and closes above 1.3486.

Technical Summary

EMA(50) : 1.3383.

EMA(200): 1.3447.

RSI(14) : 34.28.

Economic News Release Agenda:

The pound sterling is under pressure from less-than-solid UK economic data, in contrast to the relatively positive US economic data, coupled with global risks favoring the USD as a safe haven, potentially putting pressure on cable today. Tonight, there will be a data release from the United States - JOLTS Job Openings at 9:00 PM WIB.

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