Cable eases from recovery high (1.3766) in European trading on Thursday, as three day rally faced headwinds on approach to daily cloud base (1.3795).
Daily studies have slightly improved but still lack firmer bullish signal, but weekly action remains underpinned by rising thick weekly cloud, after cloud top contained pullback from 1.4249 (2021 high).
Fresh bulls need to clear pivotal barriers at 1.3800 zone (converging 200/30/20 DMA’s) to spark stronger recovery.
Dips should find ground above Wed/Tue lows (1.3696/93) to keep near-term bias with bulls.
Res:Â 1.3765, 1.3796, 1.3806, 1.3837.
Sup:Â 1.3712, 1.3693, 1.3630, 1.3601.
