Cable maintains strong bullish sentiment that came in play after Fed and accelerated further after BoE on Thursday. Two-day rally peaked at 1.2375, being so far capped by falling 30SMA and just ticks ahead of base of daily Ichimoku cloud (spanned between 1.2379 and 1.2435). Break above the cloud would generate another strong bullish signal for further retracement of 1.2568/1.2107 downleg. Meantime, consolidative/corrective phase could be expected ahead of fresh attempts higher. Broken 20SMA marks immediate support at 1.2315, with extended dips to hold above 1.2240 zone (yesterday’s low/daily Tenkan-sen line).
Res: 1.2379, 1.2392, 1.2435, 1.2459
Sup: 1.2315, 1.2272, 1.2239, 1.2200
