Wave Analysis:
Perfectly as previously forecasted, the cable declined steeply and even went below the 4 hour support zone 1.30155-1.29933, this is a key zone and as long as the price remains below it, we expect nothing but a possible momentum to the upperside, the anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below the previous week’s lowest low towards 1.2799. The idea is to wait for a clear breakout below the converging wedge to pick a low risk sell order towards 1.27.
Trade Recommendations:
Sell a break below the supportive trendline towards 1.27990.
Origin: FreshForex
