Cable remains in green for the fourth straight day on Wednesday, gradually extending recovery from the higher base at 1.4010.
Fresh extension higher dented pivotal barriers at 1.4090/99 (10SMA / Fibo 38.2% of 1.4243/1.4010 bear-leg) but without break higher for now.
Daily techs are bullish and need break above 10SMA to turn into full bullish setup and generate signal for extension of recovery.
Firm break higher would open way for further retracement of 1.4243/1.4010 and expose Fibo barriers at 1.4127 (50%) and 1.4154 (61.8%).
On the other side, thick 4-hr cloud continues to weigh and could delay recovery.
Rising 20SMA tracks the advance and offers solid support (currently at 1.4020) loss of which would be bearish signal.
UK Construction PMI is due today and eyed for fresh signal (Mar f/c 50.9 vs 51.4 in Feb).
Res: 1.4099, 1.4126, 1.4154, 1.4188
Sup: 1.4051, 1.4020, 1.4010, 1.3990
