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- Major resistance- 1.2250.
- Cable has once again retreated after jumping till 1.22433. It is currently trading around 1.2230.
- The intraday trend is bearish as long as resistance 1.2250 holds.
- Any violation above 1.2250 will take the pair to next level till 1.2275/1.23325 (Oct 19th 2016 high).
- The immediate support of cable stands at 1.2200 and any indicative break below targets 1.2170/1.2150/1.20880 (Oct 11th 2016 low).
- Short term trend reversal only above 1.3325 level.
It is good to sell on rallies around 1.2228-1.22230 with SL around 1.2260 for the TP of 1.2150/1.20890
