Cable is holding within narrow consolidation under previous day’s high at 1.3924 which capped fresh attempts higher today.
Stronger than expected UK inflation data on Tuesday boosted pound but gains were so far limited.
Mixed signals from daily techs lack clearer direction signals, as falling 10SMA approaches (currently at 1.3950) and weighs after forming bear-cross with 20SMA, together with bearish momentum.
Daily RSI remains in neutral mode while slow stochastic is trending higher after reversal from oversold zone and underpins.
Lift above 1.3924 is needed to expose pivots at 1.3950/60 (falling 10SMA / Fibo 38.2% of 1.4277/1.3764 downleg) break of which will be bullish signal for extension towards 1.4008/21 (20SMA/daily Tenkan-sen).
Otherwise, the downside would stay vulnerable while 1.3924 barrier caps.
US data today are eyed for fresh signals.
Res: 1.3924, 1.3950, 1.3960, 1.4008
Sup: 1.3850, 1.3832, 1.3796, 1.3764
