Wave Analysis
The course of this week has seen the cable decline shallowly but is still bearish, we expect a possible rally towards 1.30578 then a rebound to pick a long term short position with an ultimate target at 1.24830. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below 1.26930 towards our target stated above 1.24830. This view can only be invalidated in case the price breaks above the daily resistance level 1.30578. If this is the case, then a rally upwards is expected.
Trade Recommendations:
we’re short from 1.30578
Origin: FreshForex
