Cable extends pullback from 1.2963 peak after Monday’s close in red and pressures first strong support at 1.2859 (daily Tenkan-sen).
Reversal of daily RSI and slow stochastic from overbought territory suggests deeper correction.
Break below Tenkan-sen support would trigger extension towards 1.2800 (4-hr cloud top / near Fibo 38.2% of 1.2513/1.2963), with former consolidation lows at 1.2770/55, expected to ideally contain pullback and larger bulls in play for renewed attempt towards 1.3000 target.
Extension below 1.2700 (4-hr cloud base) would generate stronger bearish signal.
Res: 1.2907, 1.2943, 1.2963, 1.3000
Sup: 1.2859, 1.2821, 1.2800, 1.2755
