Wave Analysis
During the previous trading day, the cable successfully closed below the supportive trendline shown above and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below this trendline, 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 1.26880 to the lowerside, if you’re not in any position at the moment, wait for slight retracements to the upperside to pick low risk sell orders.
Trade Recommendations:
We’re short
Origin: FreshForex
