During the previous trading day, the cable rallied intensely to the upper side and is still pretty much bullish both on the daily and the weekly charts. Currently, the cable is rising above 1.3235, this is a key hourly level and as long as the price remains above it, we expect a possible move to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should break above 1.32 towards 1.35 or even higher. This view can only be invalidated should the price break below 1.31885.
We’re looking for a long position.