Cable remains within near-term triangle following yesterday’s unsuccessful probe above upper pivot (10SMA / triangle resistance line at 1.2465).
Near-term studies remain neutral, while dailies are mixed and show no direction signals for now.
However, yesterday’s spike higher that was capped by next pivotal barrier at 1.2506 (descending 20SMA) could be seen as initial signal of fresh strength.
Minimum requirement for this scenario is close above 10SMA (1.2465) with renewed attempts through 20SMA to confirm fresh bullish action towards upper breakpoints at 1.2550/80.
Initial supports at 1.2420/10 zone (yesterday’s low / triangle support line) guard lower pivots at 1.2400 (100SMA) and daily cloud top at 1.2380.
Res: 1.2465, 1.2496, 1.2521, 1.2550
Sup: 1.2420, 1.2412, 1.2400, 1.2379