Cable consolidates under 200SMA after first attack failed to break higher

Cable eased to 1.3027 in early European trading on Thursday after two-day over 1.5% advance failed to clear 200SMA (1.3078) on first attempt.
Traders took some profits on longs from daily cloud top, but bullish bias remains strong and sees scope for renewed attempt through 200SMA after consolidation.
Broken psychological 1.30 barrier (also highs of 17/18 Jan) acts as solid support, where extended downticks are expected to find ground.
Firm break above 200SMA would open way for bullish extension towards 7 Jan high at 1.3174.
Only extension and close below rising 10SMA (1.2926) would sideline bulls.

Res: 1.3078; 1.3094; 1.3149; 1.3174
Sup: 1.3027; 1.3000; 1.2953; 1.2926