Wave Analysis
During this week, the cable has been in a constant up trend and is now approaching a key weekly resistance level 1.30612. This is a potential sell place and as long as it protects the upperside, we’re waiting for a clear rebound from it to pick a long short position. The aim here is to wait for a clear rebound from 1.30612 to short this pair at the least risk possible. This view can only be invalidated in case the price breaks out above 1.30612, if this is the case, then further bullish price rally towards 1.3306 is expected. You could wait for a rebound from either 1.30612 or 1.3306 to pick a short position.
Trade Recommendations:
Wait for asell from 1.30612
Origin: FreshForex
