Wave Analysis
After a tight consolidation last week on the daily chart, the cable is showing signs of breaking below this consolidations, we’re waiting for a break below this consolidation to continue short with the impulsive wave © but should not go beyond the daily support level 1.27735, if this support is broken, then we’ll wait for a break below 1.27356 to confirm a possible rally towards 1.24400. This pair will have an exact opposite wave count with USDCHF, USDJPY and CHFJPY. These pairs will have an exact opposite price action during this intraday, these pairs will move in opposite price actions during this intraday.
Trade Recommendations:
Remain short with an ideal target at 1.27735.
Origin: FreshForex
