Cable extends gains after yesterday’s rally and close above daily cloud that generated strong bullish signal. Fresh acceleration higher on Tuesday tested next barrier at 1.2962 (Fibo 38.2% of 1.3268/1.2773 descend) and could trigger further correction on sustained break.
Falling 30SMA (1.2990) and psychological 1.3000 barriers are next targets, followed by daily Kijun-sen (1.3020) and Fibo 61.8% at 1.3079.
Corrective easing could be anticipated as slow stochastic entered overbought territory.
Broken cloud top and 100SMA offer solid supports at 1.2912/1.2898 which should ideally contain dips.
Res: 1.2962, 1.2990, 1.3020, 1.3079
Sup: 1.2932, 1.2912, 1.2898, 1.2873
