The cable is currently trading above a key level 1.31820. This is a key weekly resistance line and as long as the price remains above it, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should find hurdles around 1.37810, and 1.39850, if these lines are broken, then we’ll be heading upwards towards 1.45206. Only a clear break below 1.31820 will attract a long term sell towards 1.26781.
We’re buying the cable above 1.31820 towards 1.45206.