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- Major resistance- 1.2530
- Major support -1.23000 (Nov 18th 2016 low)
- Cable is trading between 1.2673 and 1.2300 for the past nine trading session. The pair jumped sharply from the low of 1.19038. But bulls got tired after hitting the high of 1.26738 and started to sell at higher levels.
- The immediate resistance is around 1.2530 and any violation above this level will take the pair to next level till 1.2600/1.2675 in the short term.
- Short term bottom is around 1.23000 and any break below will drag the pair till 1.2202 (61.8% retracement of 1.19048 and 1.26738).
It is good to sell on rallies around 1.2455-1.2460 with SL around 1.2530 for the TP of 1.2360/1.2300
