Wave Analysis
The cable is currently trading within a declining wedge formation. As long as the price is contained below the zone 1.30081-1.30098, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of both the impulsive waves (v) and (c) and should extend massively to the lowerside. basically, this pair is bearish, therefore only sell positions looks ideal. As it is, we’re waiting for a breakout below the previous day’s lowest low to pick a low risk sell order.
Trade Recommendation:
We’re short
Origin: FreshForex
