Weak tone dominates during the US session on Thursday

Cable is losing traction during American trading on Thursday and probes below the floor of two-day range, returning to weakness after a short-lived Wednesday’s recovery, which stalled on attempts to register a clear break above initial barrier at 1.1542 (10DMA).
Near-term action remains weighed by a large bearish daily candle, left on Tuesday, when cable suffered the biggest daily loss since June 13.
Momentum on daily chart remains in negative territory and MA’s returned to full bearish setup, though today’s fresh weakness sees requirement in repeated close below 10DMA to verify bearish stance, while close below 1.1460 (Sep 8 low) tis needed to confirm an end of short consolidation and signal bearish continuation for renewed attack at 2022 low at 1.1405 (Sep 7).

Res: 1.1738; 1.1760; 1.1800; 1.1841
Sup: 1.1675; 1.1610; 1.1573; 1.1497