• Major resistance – 1.2700
   
• Major support – 1.26000  
   
• Cable breaks the high of 1.26950 on Friday and jumped till 1.27371. It is currently trading around 1.27025.


• Short term trend is still bullish as long as support 1.26000 holds.
   
• The temporary top formed at 1.26957 (Dec 2nd high) will be acting as major trend reversal level. Any break above will take the pair till 1.2745/1.2800. The minor resistance is at 1.2600.
   
• On the lower side, any break below 1.26000 will drag the pair down till 1.2550/1.2500.Minor trend reversal only below 1.2300.
  
  It is good to buy on dips around 1.2660 with SL around for the TP of 1.2780/1.2800