Cable faces strong resistance at 1.5160, good to sell on rallies
Major trend reversal level – 1.5160 (Support turned into resistance)
Any further bullishness can be seen only above 1.5160 levels. Break above 1.5160 will take the pair to next level 1.5200 (trend line joining 1.54960 and 1.53350)/1.5220.
On the lower side major support is around 1.5080 and break below targets 1.0530/1.5000/1.4980 level.
It is good to sell on rallies around 1.5095-5100 with SL around 1.5160 for the TP of 1.5000/1.4980
Any further bullishness can be seen only above 1.5160 levels. Break above 1.5160 will take the pair to next level 1.5200 (trend line joining 1.54960 and 1.53350)/1.5220.
On the lower side major support is around 1.5080 and break below targets 1.0530/1.5000/1.4980 level.
It is good to sell on rallies around 1.5095-5100 with SL around 1.5160 for the TP of 1.5000/1.4980
