Cable rebounds strongly in early US session but after all, the pair is still bounded in tight range between 1.9467 and 1.9798. Intraday outlook remains neutral for the moment. While further fall to 61.8% retracement of 1.9408 to 2.0006 at 1.9636 cannot be ruled out, downside should be contained well above 1.9586 support and bring another rally. On the upside, above 1.9785 again will flip intraday bias back to the upside for 2.0006 resistance. Break will indicate that rise from 1.9408 has resumed. As discussed before, rise from 1.9363 represents another rising leg of the consolidation pattern that started at 1.9337 and might extend further to retest 2.0391 to completion the consolidation. Next near term target is 161.8% projection of 1.9363 to 1.9852 from 1.9408 at 2.0199 first.
