Just as mentioned in the previous forecast, earlier today, the cable attempted a break below the daily support 1.2271 but could not breakout to the lowerside. As long as the price remains above this level, we recommend looking for low risk buy order. This is a good hourly support level, but in case the price breaks below it, then this will mean we’re continuing to the lower side with an ultimate target at 1.2140 or even lower. But on the flip side, should the price rise and break above the previous day’s highest high, then this will be a good place to look for buy from.
Buy the cable from 1.2271.