• Major resistance – 1.2550
   
• Major intraday support -1.2475 (89- 4H EMA)
   
• Cable breaks major resistance of 1.2550 at the time of writing after declining till 1.23465 on Feb 7th 2017. The pair is currently trading around 1.25650 level.
   
• On the lower side, next immediate support is around 1.2475 (89- 4H EMA) and any break below will drag the pair down till 1.2430/1.2350 (200- 4H MA).
   
• Any break above 1.2550 will take the pair till 1.2600/1.2675 (Jan 26th high)/1.2706 (Feb 2nd high).
   
• Short term bearish invalidation only above 1.2780.
  
  It is good to buy on dips around 1.2550 with SL around 1.24800 for the TP of 1.2675/1.2705