Cable faces strong resistance at 1.4265,good to sell on rallies
Major resistance – 1.4265 (trend line joining 1.46680 and 1.45780 and 200 day 4H MA)
The pair has retreated after making a high of 1.4248. It is currently trading around 1.41930.
Short term trend is slightly weak as long as resistance 1.4260 holds.
On the lower side minor support is around 1.4175 and break below targets 1.4100/1.4045.
Any break above trend line resistance confirms minor trend reversal, a jump till 1.4300/1.4400 is possible.
It is good to sell on rallies around 1.4200-1.42025 with SL around 1.4265 for the TP of 1.4100/1.4045
The pair has retreated after making a high of 1.4248. It is currently trading around 1.41930.
Short term trend is slightly weak as long as resistance 1.4260 holds.
On the lower side minor support is around 1.4175 and break below targets 1.4100/1.4045.
Any break above trend line resistance confirms minor trend reversal, a jump till 1.4300/1.4400 is possible.
It is good to sell on rallies around 1.4200-1.42025 with SL around 1.4265 for the TP of 1.4100/1.4045
