Cable eases from new six-week high at 1.3030 but holding around 1.3000 for now. Yesterday’s close above psychological 1.3000 barrier was another strong bullish signal. Bulls are looking for final push towards 1.3047 (14 May high) to fully retrace 1.3047/1.1930 descend and signal extension of recovery phase from 1.2000 zone.
Near-term action may show further hesitation ahead of key 1.3047 barrier as daily studies are overbought and suggest corrective action ahead.
Hourly Kijun-sen offers immediate support at 1.2990, along with former top at 1.2977, with daily cloud top (currently at 1.2910) expected to contain dips.
Res: 1.3030, 1.3047, 1.3081, 1.3120
Sup: 1.2990, 1.2977, 1.2943, 1.2910
