Cable was flat in Asia and started to gain traction in early Europe, maintaining slight bid tone, despite strong upside rejections in past two days.
Easing momentum conflicts bullish setup of MA’s (10/20/30), as US payrolls are eyed for fresh signals and also global trade conflicts expected to impact market actions.
North-turning 20SMA (1.2857) marks lower pivot, loss of which would generate stronger bearish signal, while break above falling 55SMA (1.3022) would spark continuation of recovery leg from 1.2661 (15 Aug low).
Res: 1.2982, 1.3022, 1.3043, 1.3104
Sup: 1.2913, 1.2896, 1.2857, 1.2810
