CABLE:
The pair declined below the 50SMA as seen on the 4H chart below.
This decline was needed to relieve the stretched momentum indicators. We need now is a closing above 76.4% retracement of CD leg for the bullish harmonic AB=CD pattern and above 50SMA to help extend the bullish structure. For now, support near 1.6245-1.6250 should hold.
A break of 1.6365 will help the bullish structure, while a fall below 1.6245 will threaten the bullish model.
The possible trading range for today is from the support at 1.6075 towards the key resistance at 1.6550.
Support: 1.6250, 1.6225, 1.6190, 1.6125, 1.6075
Resistance: 1.6365, 1.6415, 1.6445, 1.6500, 1.6550