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- Major resistance- 1.3100
- Major support – 1.2850
- Cable has recovered sharply till 1.30873 after better than expected UK employment data released yesterday. It is currently trading at 1.30705.
- Short term trend is still weak as long as resistance 1.3175 (Kijun-Sen) holds.
- On the higher side, any break above1.3101 (21-day MA) will take the pair to next level till 1.3175 (daily Tenkan-Sen)/1.3250/1.3300.
- Technically immediate support is around 1.3000 and any break below will drag the pair to next level till 1.2950/1.2860.
- Further weakness can be seen below 1.2850.
It is good to sell on rallies around 1.3100 with SL around 1.3175 for the TP of 1.3000/1.2960.
