Cable extends above 1.3400 barrier and hit new 8 1/2 month high


Cable cracked 1.3400 barrier and hit new highest since mid-Dec 2019 in early Tuesday’s trading.
The pair maintains strong bullish tone that extends into third straight day after Fed’s new policy framework further deflated dollar.
Bullish daily studies support the advance, which so far ignores overbought conditions, but some price adjustment could be expected in coming sessions.
Bulls eye round-figure barrier at 1.3500 and 13 Dec 2019 spike high at 1.3514, with broken key Fibo barrier at 1.3243 (61.8% of 1.4376/1.1409) expected to hold extended dips.

Res: 1.3429; 1.3480; 1.3500; 1.3514
Sup: 1.3356; 1.3305; 1.3266; 1.3243