Wave Analysis
For a fortnight now, the cable bounced off from a weekly support level 1.2697 and is still pretty much above this level, as long as the price remains above the level 1.2697, we expect a possible momentum to the upper side. The anticipated bullish price rally is a correction of the impulsive wave (c) and should not go above 1.3100. If you’re not long already, you could wait for a break below 1.2697, or a bounce from 1.3352. This view can only be invalidated in case the pair breaks above 1.3352.
Trade Recommendations:
Long towards 1.3100
Origin: FreshForex
