Cable is holding within narrow consolidation just above 10SMA support (1.3161), following three consecutive days in red.
Extension of pullback from 1.3349 high hit one-week low at 1.3150, but holding for now above pivotal supports at 1.3161/29 (10SMA / Fibo 38.2% of 1.2772/1.3349 upleg).
The pullback so far looks like positioning for fresh advance as sentiment improved after fears of no-deal Brexit have been sidelined, but needs to be contained above 1.3129 Fibo support to make scenario valid
Daily studies maintain bullish momentum, but south-heading stochastic shows room for further easing.
UK Services PMI data are in focus (Feb 49.9 f/c vs Jan 50.1), with weaker than expected figure to increase pressure and risk deeper dips through 1.3129 towards 1.3060/50 zone (Fibo 50% / rising 30SMA).
Conversely, upbeat release would boost pound and possibly signal an end of corrective phase on return above 5SMA (1.3225).
Res: 1.3186, 1.3225, 1.3286, 1.3319
Sup: 1.3149, 1.3129, 1.3061, 1.3050
