Cable surges above 1.3500
Cable surged through 1.3500 barrier on Thursday, hitting the highest level since 25 Sep. The pair extends acceleration, driven by strong bullish sentiment over Brexit talks and month-end dollar selling.
Eventual break through 1.3500 obstacle (1.3506 – Fibo 76.4% of 1.3655/1.3026 descend) opens way for final push towards key barrier at 1.3655 (20 Sep recovery high, the highest since Brexit vote).
Cable is up nearly 1% for the day so far and also on track for strong monthly bullish close that marks firm bullish signal.
Daily studies are overbought and suggest some corrective easing in the near-term, but without firmer signal for now.
Broken Fibo 61.8% at 1.3415 is expected to hold extended dips.
Res: 1.3570; 1.3600; 1.3618; 1.3655
Sup: 1.3506; 1.3476; 1.3415; 1.3404