Cable pulled back from Thursday’s fresh one-month high at 1.2529, with dips being so far contained by thick hourly Ichimoku cloud (spanned between 1.2479/26).
Strong overall bullish stance was boosted by Thursday’s close above 1.2476 (Fibo 61.8% of 1.2704/1.2107 downleg), keeping targets at 1.2563/69 (Fibo 76.4% of 1.2704/1.2107 / 24 Feb high) in near-term focus.
Overbought slow stochastic on daily chart suggests that correction may extend, but no firmer bearish signal seen so far.
Broken 100SMA (1.2412) and top of daily cloud (1.2404) mark strong supports which are expected to contain extended dips.
Res: 1.2518, 1.2529, 1.2568, 1.2580
Sup: 1.2472, 1.2426, 1.2412, 1.2404
