FxWirePro: Cable upside capped by 23.6% retracement, 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 declined sharply after jumping till 1.30910. It is currently trading around 1.30078.
   
• 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