Wave Analysis
During the previous trading day, the cable declined steeply and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below the zone 1.30103-1.30360, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally to be the unfolding of the impulsive wave (E) to the lowerside and should head straight towards 1.20011. As it is on the daily chart, a good sell can be seen from 1.29526. Conservative traders can have their pending trades from 1.29526 and take profit at 1.2001
Trade Recommendations:
Sell the cable from 1.29526 with your take profit at 1.2001.
Origin: FreshForex
