- Major resistance – 1.5250
- Cable is trading between 1.4945 and 1.4805 for the Past two weeks. Short term trend is still weak as long as resistance 1.5250 holds.
- The pair has made a low of 1.4805 (22nd Dec 2015) and started to recover from that level.
- Short term resistance is around 1.5100 and break above targets 1.5160/1.5240.
- Overall bearish invalidation only above 1.5250.
- On the downside major support is around 1.4800 and break below will drag the pair down till 1.4720/1.4650/1.4560 level.
It is good to sell on rallies around 1.5100 with SL around 1.5250 for the TP of 1.4720/1.4630/1.4560
The material has been provided by InstaForex Company – www.instaforex.com