During this week, there are few economic events. BBA mortgage approvals and CBI realized sales are watchable events. The pair has got resistance at 1.6920 levels, taken support at 50-day SMA at 1.673 levels. Until the pair crosses the 1.6920 levels to the down side, the gates are open at 1.6660 levels. The daily momentum indicators are giving an indication for 'selling the rally' strategy. The initial support levels are between 1.6812 and 1.6792. Once it breaks below this, the cable will fall to 1.6762, 1.6750, 1.6720, 1.6695 and 1.6660 levels. The trend change level is placed at 1.6750, major crack will take place under this for deeper targets.
In Asia's trading session, the pair is trading at 1.6827 levels. The pair has strong support levels between 1.6808-1.6800; breaking below this, it will fall to 1.6780, 1.6765 and 1.673 levels. Until the pair holds the 1.68 levels, it will pull back to 1.6850, above this, 1.6880 and 1.6920 will take place. In the H4 chart, the Stochastic favors long side for 1.6860 and 1.6880, this view is valid until the pair holds the 1.6800 levels.
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