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Cable breaks major support 1.4350, targets 1.4200

  • Major Support - 1.4350
     
  • Major Intraday resistance - 1.4400
     
  • The pair has broken major support 1.4350 and declined till 1.4335 at the time of writing. It is currently trading around 1.4345.
     
  • Short term trend is weak as long as resistance 1.4400 holds.
     
  • Any break above will take the pair to next levels at 1.4450/1.4500. Short term bearish invalidation only above 1.4520.
     
  • On the lower side any break below 1.4350 will drag the pair down till 1.4280/1.4260/1.4200

It is good to sell on rallies around 1.4335-1.4340 with SL around 1.4400 for the TP of 1.4260/1.4200/1.4150

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