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FxWirePro-Major European Indices 
- Major resistance – 1.23800 (Support turned into resistance)
- Cable rallied sharply post Fed meeting and further supported by BOE monetary policy which was held yesterday.
- BOE has kept its interest rates unchanged at 0.25% but one of the committee member Forbes who leaves at end of June voted against rest of member for a rate hike of 25bpbs due to rising inflation. GBP rallied against all major pairs.
- Cable upside is capped by 1.2380 and any break above will take the pair till 1.24075 (50% retracement of 1.2706 and 1.2109)/1.24450 (trend line joining 1.27060 and 1.25695)/1.2520. The pair should break above 1.25820 for further jump till 1.27060.
- On the lower side , near term support is around 1.2300 and any break below targets 1.2283 (100- 4H EMA)/1.2250 level.
It is good to buy on dips around 1.2380-1.23825 with SL around 1.23200 for the TP of 1.2440/1.2520
