- Major resistance – 1.23000
- Major support – 1.2200
- Cable recovered slightly from the low of 1.22005 till 1.2270 level at the time of writing. It is currently trading around 1.22440.
- Short term trend is bearish as long as resistance 1.2300 holds.
- On the higher side, any break above 1.23000 will take the pair to next level till 1.2385/1.24350.
- The major support stands at 1.2200 and any violation below that level will drag the pair down till 1.2150/1.2080 level.
It is good to sell on rallies around 1.2255-1.2260 with SL around 1.2300 for the TP of 1.2150/1.2080.
Resistance
R1-1.23000
R2-1.2385
R3- 1.2435
Support
S1-1.2200
S2-1.2150
S3- 1.2080
