Bulls need firm break above 1.31 to gain traction
Cable keeps slight bullish bias for probes into the upper side of two-week 1.2982/1.3185 range, but daily chart action remains in sideways mode.
Bulls have established above 1.30 level which now marks solid support as the floor of current consolidation range, but needs sustained break above 1.3100 to regain traction and attack range tops.
Weekly studies show signs of bullish continuation, however, overbought conditions and double weekly Doji, warns.
Stronger bearish signal could be expected on return and close below 1.30 pivot (reinforced by rising 20DMA) that would expose 200DMA (1.2918).
Conversely, break above 6 Aug peak at 1.3185 would generate bullish signal which would require confirmation on lift above 1.3243 (Fibo 61.8% of 1.4376/1.1409 descend).
Res: 1.3142; 1.3185; 1.3200; 1.3243
Sup: 1.3078; 1.3048; 1.3000; 1.2981