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- Major resistance – 1.3185
- Cable clocked a fresh two -week at 1.31853 at the time of writing after better than expected UK economic data.
- The pair has formed bullish MA crossover in the daily chart 5 –day MA and 10- day MA cross over. It is currently trading around 1.3275.
- It should close below 1.3100 (21 –day MA) for intraday weakness .Any break below 1.3100 will drag the pair till 1.3010 (10 day MA)/1.2960.
- On the higher side ,the pair should break above 1.3185 and any comfortable break above that level will take the pair to next level till 1.3310 (23.6% retracement of 1.51086 and 1.27893).
It is good to buy on dips around 1.3085-.3090 with SL around 1.3010 for the TP of 1.3185/1.3310
