FxWirePro: Cable faces strong resistance at 55-day EMA, good to sell on rallies

• Major resistance- 1.3350 (55- day EMA).
   
• Major support - 1.3240 (3- day EMA).
   
• Cable is facing strong resistance at 55- day EMA and any bullishness can be seen only above that level. It is currently trading around 1.32916.


• Any break above 1.3350 will take the pair to next level till 1.3400/1.3480.On the lower side major support is around 1.3240 and break below targets 1.3175 (10- day MA).The major support is at 1.3175 (5- day and 10 day-MA) and break below confirms further weakness, a decline till 1.3090/1.3050 cannot be ruled out.

It is good  to sell on rallies around 1.3305 with SL around 1.3350 for the TP of 1.3245/1.375