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 1.25…
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
