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- Major resistance – 1.245 (200- 4H MA)
- Major support - 1.2200
- Cable has broken major support at 1.2200 and declined till 1.21240 at the time of writing. It is currently trading around 1.21680.
- The pair minor resistance is around 1.22278 and any break above will take the pair till 1.2308/1.2365/1.2435. Any close above 1.2450 will take the pair to next level till 1.2510/1.2550 (61.8% retracement of 1.27747 and 1.22005).Short term trend reversal only above 1.2800.
- On the lower side, short term support stands at 1.2150 and any break below will drag the pair down till 1.2080/1.2000 level.
It is good to sell on rallies 1.2180 with SL around 1.2250 for the TP of 1.2080/1.2050
