Cable has run into resistance just shy of 1.9560 following its approximate one-cent rally from post-US retail sales data lows. 1.9560 is an approximate 61.8% Fibo retracement point of the fall from 1.9752 (Jan 2 high) to 1.9260 (Monday's six-week low). 1.9538 (yesterday's post-UK rate hike high) is now a pullback support point.
Lower props include 1.9510 (pre-US retail sales data peak), and 1.9460. 1.9600 and 1.9650 are among touted bull targets north of 1.9560. Large 1.9650 option strikes roll off today and next Tuesday (post-UK CPI). 1.9849 was last month's 14-year high (Dec 1).
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