Wave Analysis
During the previous trading day, the cable declined slightly to the lowerside after bouncing from the level 1.30688-1.31651. As long as the price is contained below this zone, we expect nothing but a possible momentum to the lowerside. Conservative traders should wait for a sell from 1.30688 and the take profit at 1.30080. This view will only be invalidated in case the price breaks above 1.30688, if this is true, then further momentum to the upperside towards 1.32120 is expected. Any break higher will push price even higher.
Trade Recommendation:
Sell the cable from 1.30688 towards 1.30080.
Origin: FreshForex
