• Harmonic Pattern – Bearish Gartley pattern
   
• Potential Reversal Zone (PRZ) - 1.2616
   
• Cable has formed potential harmonic pattern and major trend reversal happens only above 1.2616 level. It is currently trading around 1.2501.
   
• The pair has made a high of 1.2559 and declined from that level . It has broken minor support of 1.2500 and this confirms minor weakness. Any break below 1.2500 will drag the pair down till 1.2460/1.2400.Any close below 1.2400 will drag the pair down till 1.23700/1.2320.
   
• On the higher side, any break above 1.2580 will take the pair till 1.2610/1.2640. It should break above 1.2700 for further bullishness.
  
  It is good to sell on rallies around 1.2560 with SL around 1.2620 for the TP of 1.2460/1.2400.