Cable extends recovery for the fourth consecutive day and hit fresh over two-weeks high at 1.2572, driven by solid UK data and weaker dollar.
Technicals on daily chart remain in firm bullish mode and favor final push towards next targets and key barriers at 1.2613/27 (27 Mar high / 200SMA).
However, consolidation may precede fresh rally, as daily slow stochastic is overbought (no firmer bearish signal for now).
Ascending converged daily 10/20 SMA’s offer solid support at 1.2476/67 zone which should contain extended downticks.
Res: 1.2572, 1.2594, 1.2613, 1.2627
Sup: 1.2527, 1.2500, 1.2470, 1.2425
