Fresh inflation optimism halts pullback but near-term bias is still negative

Cable is holding within a narrow range above 1.3800 handle on Monday after pullback from new highest since 2018 was paused by optimistic comments from BoE’s Governor Bailey that the central bank is to get inflation up to 2% target and hold it there that hurt near-term bears.
Although strong upside rejection and bull-trap above 1.40 mark on weekly chart weigh and daily techs gain negative momentum, bears face headwinds and look for fresh direction signals.
Upper pivotal barrier lays at 1.3928 (20DMA) while 55DMA (1.3729) marks lower trigger with violation of each level to provide initial direction signal.

Res: 1.3869; 1.3929; 1.3957; 1.4000
Sup: 1.3800; 1.3778; 1.3729; 1.3700