• Major resistance – 1.25820 (Feb 9th 2017 high).


• Major support – 1.2480 (trend line joining 1.2108 and 1.23584).
   
• Cable rallied till 1.25311 after better than expected U.K retail sales data. The quantity bought in retail sales increased by 3.7% compared with Feb last year and increased by 1.4% vs previous month Jan.
   
• The pair declined slightly after hitting the high of 1.25311 and any further bullishness only above 1.25820.
• Any break above 1.25820 will take the pair till 1.27060. Short term bearish invalidation only above 1.2780.
   
• On the lower side, any break below 1.24200 will drag the pair till 1.23800/1.2345 in the short term.
  
  It is good to sell on rallies around 1.2480-85 with SL around 1.2535 for the TP of 1.2420/1.2382.