Wave Analysis
After breaking below the 4 hour support level 1.26810, the cable is yet to pullback to the same level. Just as we mentioned in our previous forecast, as long as the price remains below this level, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (5) and may go beyond 1.24395. If you’re not in any trade at the moment, you could wait for price to pullback upwards towards 1.2810 to pick a long term short position towards 1.24395.
Trade Recommendations:
Place a pending sell limit order at 1.26810.
Origin: FreshForex
