Wave Analysis
Perfectly as previously forecasted, the cable bounced off from the daily support level 1.2768 and is still pretty much above this level, as long as the price remains above it, we expect a possible rally to the upper side but should go beyond 1.3301. And on the flip side, should the price break below 1.2768, then we’ll continue short with the last impulsive wave (c) towards 1.2100, and may break even lower. According to the current chart set up and structure, only a long position looks more ideal and can be recommended towards 1.3301.
Trade Recommendations:
Re buy gbp from 1.2768 towards 1.3301.
Origin: FreshForex
