FxWirePro: Cable trades slightly above 1.300 handle, good to sell on rallies
Major resistance- 1.30905 (23.6% retracement of 1.34450 and 1.29940). Major support -1.29940 (16th Sep low). Cable has broken major pschycological support 1.30 handle and recovered from that level. It is currently tradin…
Major resistance- 1.30905 (23.6% retracement of 1.34450 and 1.29940).
Major support -1.29940 (16th Sep low).
Cable has broken major pschycological support 1.30 handle and recovered from that level. It is currently trading around 1.30480.
The pair upside is capped by 23.6% retracement of 1.34450 and 1.299401 and it should break above 1.3092 for further bullishness. Any break above 1.3095 will take the pair to next level till 1.3155 (daily Kijun-Sen)/1.32011(21- day MA).
On the lower side, any break below 1.29940 will drag the pair down till 1.2900/1.28650.
It is good to sell on rallies around 1.3060-65 with SL around 1.3100 for the TP of 1.29950/1.2945
