Cable has just printed multiple rejections inside a key supply zone (1.3280–1.3300) using the LuxAlgo Supply and Demand tool. Sellers are clearly active—but is it enough to reverse this bullish trend?
Price Action Breakdown:
Major Supply Zone: 1.3280–1.3300 – Two rejections and slowing momentum here.
First Demand Area: 1.2804 (clean structure, prior resistance turned support).
Confluence Zone: 1.2744 – Matches key fib level + mini base.
Ultimate Buy Zone: 1.2327–1.2470 (high volume, previous rally base).
Playbook:
Bearish Bias Short-Term: A breakdown below 1.2804 opens the door to 1.2744 and 1.2470.
Bullish Bias Only if: Price breaks and closes above 1.3300 with strong volume.
Neutral Setup: Consolidation here could trap both sides—patience needed.
Pro Tip: Watch for UK/US fundamentals as volatility events approach (marked below on the chart).
Price Action Breakdown:
Major Supply Zone: 1.3280–1.3300 – Two rejections and slowing momentum here.
First Demand Area: 1.2804 (clean structure, prior resistance turned support).
Confluence Zone: 1.2744 – Matches key fib level + mini base.
Ultimate Buy Zone: 1.2327–1.2470 (high volume, previous rally base).
Playbook:
Bearish Bias Short-Term: A breakdown below 1.2804 opens the door to 1.2744 and 1.2470.
Bullish Bias Only if: Price breaks and closes above 1.3300 with strong volume.
Neutral Setup: Consolidation here could trap both sides—patience needed.
Pro Tip: Watch for UK/US fundamentals as volatility events approach (marked below on the chart).
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