• Major resistance – 1.2390 (21- day EMA)
   
• Major support - 1.2200
   
• Cable made a minor bottom at 1.22005 on Dec 28th 2016 and slightly jumped from that level. It is currently trading around 1.22930.
   
• The pair upside is capped by 21- day EMA and any minor bullishness can be seen only if it close above that level. Any close above 1.2400 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 1.2200 and any break below will drag the pair down till 1.2150/1.2080 level.
  
  It is good to sell on rallies around 1.2330-1.2335 with SL around 1.2400 for the TP of 1.2200