Cable remains steady on Thursday and posted new high at 1.2514, signaling bullish continuation after Wednesday’s action ended in long-legged Doji and closed at important Fibo 61.8% barrier at 1.2476.
Technical studies are in firm bullish setup and supportive for further advance, as daily cloud contained yesterday’s dips and is going to widen in coming days, is continuing to underpin.
Focus remains at immediate targets at 1.2563/68 (Fibo 76.4% of 1.2704/1.2107 / 24 Feb high), however, close above 1.2476 is seen as initial requirement to maintain bullish bias.
Solid supports at 1.2412/04 (broken 100SMA / daily cloud top) need to contain extended dips to keep bulls intact and prevent deeper downticks.
Res: 1.2514, 1.2521, 1.2568, 1.2580
Sup: 1.2465, 1.2412, 1.2404, 1.2383
