Cable ticked lower on Tuesday after attempts to extend previous day’s rally faced headwinds from strong resistances at 1.3162/67 (Fibo 61.8% of 1.3472/1.2661 / falling 100SMA).
Bulls may take a breather, with consolidative / corrective action signaled by overbought slow stochastic and 14-d momentum heading south after forming a bear-cross.
Dips are expected to hold above broken top of falling daily cloud (1.3088) to keep bulls intact for renewed attack at 1.3162/67 pivots.
Sustained break here would generate strong bullish signal for extension of short-term uptrend from 1.2661 (15 Aug low) towards targets at 1.3213 (26 July high) and 1.3280 (Fibo 76.4%).
Conversely, break and close below daily cloud top would risk deeper pullback and expose supports at 1.3043 (former high of 30 Aug) and 1.3010 pivot (55SMA).
Res: 1.3167, 1.3213, 1.3280, 1.3335
Sup: 1.3130, 1.3101, 1.3088, 1.3010
