Wave Analysis
During the previous trading day, the cable pulled back to the upper side but is still below 1.33058. As long as the price remains below this trend line, we expect a possible momentum to the lower side, on the daily chart, if you’re not already in a short position, you could wait for a pullback towards 1.33058 to pick this short position, and should the price go above 1.33058, then it will be safe to wait for a pullback to the just broken line to pick a low risk long position. And the would mean the last impulsive wave (c) ended around 1.31280.
Trade Recommendations:
Sell the cable below 1.33058.
Origin: FreshForex
