Major intraday support - 1.2400 (trend line joining 1.2345 and 1.23875) Major Resistance – 1.25820 (Feb 9th 2017) Cable has shown a huge jump yesterday after breaking 1.2500 level. It is currently trading around 1.25528.…
Major intraday support - 1.2400 (trend line joining 1.2345 and 1.23875)
Major Resistance – 1.25820 (Feb 9th 2017)
Cable has shown a huge jump yesterday after breaking 1.2500 level. It is currently trading around 1.25528.
On the lower side major weakness can be seen only below 1.2400 and any violation below will drag the pair down till 1.234500 (50% retracement of 1.19860 and 1.27060). Any break below 1.23450 confirms further weakness, a decline till 1.2260/1.2200 likely.
The minor trend reversal can be happen only above that 1.2580 level and any break above will take the pair till 1.2705 (Feb 2nd 2017 high)/1.27750 (Dec 6th 2016 high).The major resistance is around 1.2530 level.
Overall trend reversal only above 1.2780 level.
It is good to buy above 1.25820 with SL around 1.2520 for the TP of 1.2670/1.2705
