FX.co ★ 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.