Cable’s bullish break from the 4-hourly falling channel followed by a convincing move to near 1.41 handle suggests a temporary bottom is in place at 1.2789 and could yield sideways to positive action, but reckon the hurdle at 1.3119 (previous cyclical low) could stay intact.
On the lower side, only a move back below 1.30 from here would suggest a major failure of the corrective forces and open doors for a fall back to 1.2881 – 1.2789 levels.