Wave Analysis
For the past few days, the cable rallied intensely to the upperside and is now bouncing from the upper trendline. As long as the price remains below this trendline, we expect a possible momentum to the lowerside. The anticipated bearish price rally is the unfolding of the corrective wave (4) to the lowerside but should not break below the supportive trendline. And should the price rebound from this trendline, then this will be a good place to look for a long term long position with an ultimate target at 1.32960 or even higher.
Trade Recommendations:
we’re short towards the lower trendline.
Origin: FreshForex
