Cable maintains bullish tone on Friday and extends above former high at 1.4244 (26/27 Mar double-top), probing above next strong barrier at 1.4255 (falling weekly 200SMA). Uninterrupted rally from 1.3965 (05 Apr trough) extends into sixth straight day) and looking for strong bullish signal on weekly close above 1.4244/55 pivots. Bulls eye next target at 1.4300 (Fibo 123.6% projection of the upleg from 1.3965) and could attack key med-term barrier at 1.4345 (post- Brexit recovery high, posted on 25 Jan). Bullish daily techs support the notion, however, overbought slow stochastic requires caution. Broken barriers at 1.4255/44 now act as initial supports, with stronger dips to be contained above rising 10SMA (1.4123) to keep bulls in play.
Res: 1.4277, 1.4300, 1.4345, 1.4400
Sup: 1.1.4255, 1.4244, 1.4200, 1.4144
