Cable continues to get squeezed in the formation seen on the hourly chart. However, recovery from sub 1. 44 levels (as seen in last two trading days) post weak UK manufacturing data indicates increased odds of an upside break. The safest bet is to wait for an hourly closing above resistance, in which case, a sharp squeeze higher to 1.45 levels can be expected.
On the lower side, 1.4374 is a strong support, which if breached shall create room for a drop to 1.1.4330 levels.