Cable faces strong resistance at 1.4360, good to sell on ralli
Major resistance- 1.4360 (trend line joining 1.4500 and 1.44360)
Cable has made a high of 1.43387 at the time of writing and started to decline from that level. It is currently trading around 1.43144.
Short term trend is slightly bearish as long as resistance 1.4360 holds.
Any upside violation above 1.4360 will take the pair till 1.4400/1.4430/1.4460 level.
On the lower side major support is around 1.4280 and break below targets 1.4240/1.4170/1.4100 level.
The pair should close above 1.4500 for further upside.
It is good to sell on rallies around 1.4360 with SL around 1.4400 for the TP of 1.4280/1.4240
Cable has made a high of 1.43387 at the time of writing and started to decline from that level. It is currently trading around 1.43144.
Short term trend is slightly bearish as long as resistance 1.4360 holds.
Any upside violation above 1.4360 will take the pair till 1.4400/1.4430/1.4460 level.
On the lower side major support is around 1.4280 and break below targets 1.4240/1.4170/1.4100 level.
The pair should close above 1.4500 for further upside.
It is good to sell on rallies around 1.4360 with SL around 1.4400 for the TP of 1.4280/1.4240