Wave Analysis
During the previous trading day, the cable decline steeply an is currently trading below the level 1.2982. This is a key level and as long as the price remains below it, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below the previous day’s lowest low towards 1.28 or even lower. Conservative traders should have pending sell limit orders at 1.2982 stoploss above 1.2995 and take profit at 1.28.
Trade Recommendations:
Have a pending sell limit order at 1.2982.
Origin: FreshForex
