Cable stands at the front foot on Thursday and attempts to extend bounce of new low at 1.3205 (29 May) where top of weekly cloud contained fall from 1.4376 peak.
Break above falling 5SMA (1.3295) opens way towards strong barriers at 1.3352/62 (falling 10SMA / Fibo 38.2% of 1.3617/1.3205 bear-leg).
Recovery should be ideally capped here to keep larger bears intact for renewed attempt at 1.3200 zone, loss of which would signal bearish continuation and expose support at 1.3153 (50% retracement of 1.1930/1.4376 post-Brexit recovery).
Firm break above 10SMA would sideline existing downside risk and open way for further correction towards next strong barrier at 1.3441 (falling 20SMA).
Res: 1.3352, 1.3410, 1.3441, 1.3459
Sup: 1.3295, 1.3277, 1.3241, 1.3205
