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- Major intraday resistance – 1.2760 (3- day EMA).
- Major support – 1.2680.
- Cable has formed a bottom at 1.26850 yesterday and slightly recovering from that level. It is currently trading around 1.27300.
- In daily chart, MACD is showing Bullish divergence and this implies that slight jump till 1.2860 (7 –day EMA) is possible.
- On the lower side, major support is around 1.2680 and any break below will drag the pair to next level till 1.2630/1.2600 is possible.
- The intraday resistance is around 1.2760 (3- day EMA) and any break above targets 1.2800/1.2863 (7- day EMA) in the short term.
It is good to buy on dips around 1.2705-1.2710 with SL around 1.2675 for the TP 1.2760/1.2800.
