Cable faces strong resistance at 1.4276, good to sell on rallies
Major resistance – 1.42760 (trend line joining 1.46633 and 1.45704)
Minor support - 1.41950
The pair has broken minor support 1.4195 after making a high of 1.42760 and declined till 1.41769 at the time of writing. It is currently trading around 1.41828.
Short term trend is still weak as long as resistance 1.42760 holds.
Any break above 1.42760 will take the pair to next level till 1.4350/1.4400 in short term.
The minor resistance are at 1.4208/1.4268.
On the lower side major support is at 1.4100 and break below targets 1.4050/1.4000.
The minor support is around 1.4175/1.4150
It is good to sell on rallies around 1.4195-4200 with SL around 1.4275 for the TP of 1.4080/1.4045
Minor support - 1.41950
The pair has broken minor support 1.4195 after making a high of 1.42760 and declined till 1.41769 at the time of writing. It is currently trading around 1.41828.
Short term trend is still weak as long as resistance 1.42760 holds.
Any break above 1.42760 will take the pair to next level till 1.4350/1.4400 in short term.
The minor resistance are at 1.4208/1.4268.
On the lower side major support is at 1.4100 and break below targets 1.4050/1.4000.
The minor support is around 1.4175/1.4150
It is good to sell on rallies around 1.4195-4200 with SL around 1.4275 for the TP of 1.4080/1.4045