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- Cable has taken support near 21- day EMA at 1.29300 and recovered sharply from that level. It is currently trading around 1.30365.
- On the higher side, the pair is facing major resistance around 1.3130 and any break above confirms bullish continuation. The near term resistance is around 1.30618.
- Technically, near term support is around 1.2930 (21- day MA) and any break below will drag the pair till 1.2857 (daily Kijun-Sen)/1.28118 (Jul 12th low).
It is good to buy on dips around 1.2980 with SL around 1.2930 for the TP of 1.3130/1.3200.
