Bulls accelerate towards 1.3600 pivot
Cable regained traction and bounced near 1.36 barrier in European trading on Wednesday, with fresh advance after double long-legged Dojis signaling an end of pullback from last week’s high at 1.3627.
Formation of 10/100DMA’s bull-cross on daily chart and north-heading 14-d momentum about to break into positive territory support the action.
Regaining the territory above 1.3600 (Fibo 61.8% of 1.3748/1.3357 bear-leg) would add to bullish signals and open way for test of 1.3627 pivot, break of which would expose key resistances at 1.3704 (200DMA) and 1.3748 (2022 high).
Broken daily Kijun-sen offers support at 1.3553, with close above here to confirm bullish bias.
Lower pivots lay at 1.3509/1.3496 (100DMA / daily cloud top).
Res: 1.3600; 1.3614; 1.3627; 1.3661
Sup: 1.3575; 1.3553; 1.3522; 1.3496