Cable remains in red on Friday after suffering heavy losses on fall from 1.3213 to 1.3105 on Thursday. Fresh bearish extension of pullback from 1.3213 (after recovery failed to clearly break above pivotal Fibo 61.8% of 1.3362/1.2957 fall barrier) probes below 1.31 handle and pressures pivots at 1.3085/71 (50% of 1.2957/1.3213 rally/4-hr cloud base/24 July trough). Thursday’s bearish outside day adds to negative outlook on negative setup of daily techs. Close below cracked weekly 100SMA (1.3078) is needed to confirm bearish continuation and expose psychological 1.30 level and key support at 1.2957 (19 July low, the lowest since Aug 2017). Broken daily Tenkan-sen marks initial resistance at 1.3113, with broken Kijun-sen (1.3160) expected to cap stronger upticks and maintain bearish stance.
Res: 1.3113, 1.3160, 1.3180, 1.3213
Sup: 1.3085, 1.3071, 1.3055, 1.3000
