Cable Breaks Major Support 1.4400, Targets 1.4280/1.4240
- Major support - 1.4400 (trend line joining 1.44437 and 1.44229)
- Major resistance -1.4450 (support turned into resistance)
- Cable has broken major support 1.4400 and declined till 1.43780 at the time of writing. Intraday trend is weak as long as resistance 1.4450 holds.
- Any break below 1.4400 will drag the pair down till 1.4320/1.4280/1.4240 level.
It is good to sell on rallies around 1.4385-1.4390 with SL around 1.4450 for the TP of 1.4280/1.4240.