Cable extends pullback from 1.3029 and pressures strong support at 1.2910 (daily cloud top). Strong close in red on Monday confirmed reversal on completion of Hanging Man reversal pattern. Deeper correction could be expected on penetration into daily cloud as slow stochastic is reversing from overbought zone and generating bearish signal. Dips could extend towards 1.2861 (Fibo 38.2% of 1.2588/1.3029 upleg, reinforced by 55SMA) and 1.2833 (10/30 SMA bull-cross). Psychological 1.3000 barrier is expected to ideally cap upside attempts for now.
Res: 1.2958, 1.3000, 1.3029, 1.3047
Sup: 1.2910, 1.2861, 1.2841, 1.2833
