Wave Analysis
During the previous trading day, the cable tried to go below last last week’s lowest low, but could not sustain the break below. We still expect a steep downward move towards 1.27355. The level 1.27355 is both a weekly and a monthly support level and as long as the price remains above it, we’re looking forward to a possible long term buy from it. So far, we have a pending buy limit order from this level with our stop loss below 1.23870 and take profit at 1.42339, as it is, we only recommend looking for buy orders.
Trade Recommendation:
Place a pending buy limit order around 1.27355.
Origin: FreshForex
