Wave Analysis
Despite the previous forecasts that this pair could plummet towards 1.27102, the cable went slightly to the lowerside and has now pulled back to the upperside. We short around last week’s opening price, 1.30139, and is still holding. Our expectations is that the price will continue to the lowerside and should head straight towards 1.27102. We don’t expect the current correction to be a flat correction but should break below 1.27102. If this is the case, then we’ll expect the impulsive wave (c) to continue to the lowerside towards 1.20930.
Trade Recommendations:
We’re short towards 1.27102.
Origin: FreshForex
