After bouncing from the weekly support level 1.26941, the cable headed to the upperside and is still very bullish both on the weekly and the monthly chart. We’re waiting for a clear sell signal around 1.33059, as it is on the weekly chart. According to the chart attached, we’re expecting a momentum towards 1.33059. This is a weekly resistance level and should the price fail to breakout above it, then this will be a ideal place to look for a long term sell towards 1.26941. A break below this level will push the price further to the lowerside towards 1.21331.
We’re short upon a clear bounce from 1.33059.