The pair closed with marginal profits in yesterday's session. After 14 sessions, the pair managed to closed above 20Dsma. The prices are facing resistance at 200hrsma and 200hrema at 1.2610, the pair made a high at 1.2600. We recommend fresh buying above 1.2620 with the targets at 1.2640 and 1.2680. The prices are taking support at intraday 12ema levels and hourly 34hrsma. The support levels exist at 1.2524 and 1.2513. We recommend speculative selling below 1.2500 with the targets at 1.2475 and 1.2445. The panic will be triggered below 1.2440 with the targets at 1.2415 and 1.2360. Ahead of the economic events, the cable is trading in a silent mode with negative shades. Today, traders are turning attention on US CPI and jobs data. In the euro region, French and Spanish manufacturing, flash services data will be published. Tomorrow, ECB president Draghi's speech will give clear direction for the near- and short-term basis. On the downside, the pair has support at 1.2350, below this, 1.2226 is the major support level.
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