Wave Analysis
Yesterday, the cable pulled back to the upperside but failed to rise above 1.1040-1.30341, as long as the price remains below this level and also below the upper resistive trendline, we expect a possible steep decline towards 1.29505, the idea is to wait for a possible pullback to the upperside to pick a low risk sell order. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below 1.29630 towards 1.28. If you’re a bit skeptic to look for a sell order you could wait and sell a break below the recently lowest low.
Trade Recommendations:
Sell the cable from the upper trendline, or below 1.29630.
Origin: FreshForex
