Cable has had a good run from the low near 1.3835 to the high around 1.4280. It posted six consecutive winning days and gained 450 pips. Yesterday, however, the pair ended with about 50 pip loss, after a general pullback in riskier assets.
1.4250 - 1.43 shall now offer an immediate resistance before 50 DMA (currently ~1.4340). 1.4150 is the initial support with more demand expected closer to the big figure level at 1.40.
1.4250 - 1.43 shall now offer an immediate resistance before 50 DMA (currently ~1.4340). 1.4150 is the initial support with more demand expected closer to the big figure level at 1.40.