• Major intraday support - 1.2400 (trend line joining 1.2345 and 1.23875)
   
• Major Resistance – 1.2530 (50% retracement of 1.2706 and 1.2345)


• Cable has once again recovered and jumped slightly above 1.2500 level. It is currently trading around 1.24498.
   
• On the lower any violation below 1.2400 will drag the pair down till 1.234500 (50% retracement of 1.19860 and 1.27060). Any break below 1.23450 confirms further weakness, a decline till 1.2260/1.2200 likely.
   
• The minor trend reversal can be happen only above that 1.2580 level and any break above will take the pair till 1.2705 (Feb 2nd 2017 high)/1.27750 (Dec 6th 2016 high).The major resistance is around 1.2530 level.
   
• Overall trend reversal only above 1.2780 level.
  
  It is good to sell below 1.2400 with SL around 1.2455 for the TP of 1.2345/1.2300/1.2260.