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- Major resistance- 1.2255 (100- HMA and trend line joining 1.23180 and 1.2273).
- Minor support -1.2200.
- The pair recovered sharply from the low of 1.2168 and jumped till 1.2255 at the time of writing. It is currently trading around 1.22310.
- Cable is facing major resistance at 100-HMA and any violation above confirms minor trend reversal, a jump till 1.2320/1.2350.
- On the lower side, any break below 1.2200 will drag the pair down till 1.21670/1.21320 in the short term.
It is good to buy only above 1.2255 with SL around 1.2200 for the TP of 1.2320/1.2350.
