• Major resistance – 1.2585 (100- day EMA)
   
• Major support -1.2430 (38.2% retracement of 1.19860 and 1.27060)
   
• Cable has broken major support of 1.2430 level and declined till 1.24197 at the time of writing. The pair is currently trading around 1.24330 level.
   
• The pair upside capped by 100 –day EMA and any break above will take the pair till 1.26750/1.27060 (Feb 2nd 2017 high).The minor resistance is around 1.2474 (21- day EMA) and any break above targets 1.2550/1.25850.
   
• On the lower side, next immediate support is around 1.2430 (38.2% retracement of 1.19860 and 1.27060) and any break below will drag the pair down till 1.2345 (Feb 7th 2017 low)/1.2300.
   
• Short term bearish invalidation only above 1.2780.
  
  It is good to sell on rallies around 1.2455-1.2460 with SL around 1.2525 for the TP of 1.2345