Wave Analysis
Yesterday, the cable failed to sustain the break below 1.2764, instead, the price pulled back higher and is now above 1.2768. As long as the price remains above this level, we’re likely to see a scenario where this pair could gain value intensely towards 1.3301. Currently as of writing this article, the best we should do is to remain on the sidelines. But in case of a a second break below 1.2768, with a big red candle, then this will be an ideal case to hunt for a long term short with an ultimate target at 1.2100.
Trade Recommendations:
Only sell a clear breakout below 1.2768 with your take profit at 1.2100.
Origin: FreshForex
