Cable is holding firm above broken 1.3200 barrier which now acts as initial support and marks European session low.
Bullish acceleration in past two days confirms strong bullish stance for extension of larger bull-phase from 1.2000 zone and bull-leg from 1.2588 trough towards its Fibo 161.8% projection at 1.3330 and key barrier at 1.3473 weekly cloud top) in extension).
Near-term price action probes above session high at 1.3235 after better than expected UK Manufacturing PMI data inflated the pair, signaling further advance.
Initial support lies at 1.3200/ 1.3190 zone, below which next supports levels are 1.3158 (27 July former high) and 1.3100 (Monday’s low).
Res: 1.3200′ 1.3250′ 1.3300′ 1.3330
Sup: 1.3200′ 1.3858′ 1.3125′ 1.3100
