Cable maintains firm tone and retested 1.3244 high on Wednesday but strong offers at 1.3250 zone keep gains limited. UK Construction PMI fell well below forecast in July (51.9 vs 54.5 f/c) and may provide additional pressure.
However, near-term action remains underpinned by rising hourly cloud (cloud top lies at 1.3190 which also marks lows of today / Friday) and near-term focus will remain at the upside while the latter holds.
Break here is needed to signal pullback, with the notion being supported by overbought daily slow stochastic, for extension towards next significant support at 1.3100 (rising daily Tenkan-sen / 10SMA).
Otherwise, extended consolidation within established range of 1.3190/1.3244 would precede fresh attempts higher.
Sustained break above 1.3250 pivot would expose Fibonacci 161.8% projection at 1.3330.
Res: 1.3250, 1.3300, 1.3330, 1.3346
Sup: 1.3190, 1.3125, 1.3100, 1.3051
