Cable extends recovery on Wednesday’s early US session trading after dollar accelerated lower and erased all gains from better than expected US durable goods data. The pair advanced 0.67% on Tuesday and confirmed reversal signal on Monday’s inverted hammer. Fresh gains tested pivotal barriers at 1.3161/85 (cracked bear-trendline off 4.4376 high/Fibo 61.8% of 1.3266/1.3053), shifting near term focus higher after repeated rejection at week-long congestion floor. Bullish setup of daily studies supports the action which needs today’s close above 1.3185 pivot for fresh signal and renewed attempt at key 1.3243/66 barriers (Fibo 61.8% of 1.4376/1.1409 fall/new 2020 high).
Res: 1.3200; 1.3243; 1.3266; 1.3300
Sup: 1.3161; 1.3117; 1.2103; 1.3056
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