R: 1.6056-88 / 1.6184 / 1.6244-56
S: 1.5991-50 / 1.5868 / 1.5804

The Cable has risen during the day and recorded a high of 1.6036. Further upside is likely to be contained near the Max High for the day which is at 1.6082. A rise therafter, though not likely, may meet the channel Resistance on the daily candles near 1.6180. The pair has been oscillating in a bear channel over the last several days; the bounds for which are 1.6180 and 1.5714 today.

Overall the Cable is bearish and we expect a test of 55-week MA (1.5658) eventually over the course of next few weeks.