Wave Analysis
The cable is currently trading around 1.2724. Perfectly as we mentioned in our previous forecasts, as long as the weekly chart does not close beyond 1.2724, we expect a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave c to the lowerside and should break below the recent lowest low 1.2405, towards 1.2156. The idea here is to look for a low risk sell position now, have your stoploss above last week’s highest high, and take profit at 1.2156. A close above 1.2724 may invalidate the anticipated move to the lowerside.
Trade Recommendations:
Look for a sell position now towards 1.2156.
Origin: FreshForex
