• Major resistance – 1.2520
   
• Cable rallied sharply till 1.2505 after better than expected CPI data yesterday. The pair has shown minor selling from the high.
   
• The pair is facing strong resistance around 1.2520 and any break above will take the pair till 1.2580. The pair should break above 1.25820 for further jump till 1.27060.
   
• On the lower side, cable breaks minor near term support at 1.2450 and any break below targets  1.24099 (23.6% retracement of 1.2109 and 1.25059)/1.2345/1.2320 level in the short term.
   
• The selling from 1.71796 till 1.19048 will come to an end only if it breaks above 1.2780 level.
  
  It is good to sell on rallies around 1.2465-1.2470 with SL around 1.2520 for the TP of 1.2400/1.2345.