Wave Analysis:
The cable is currently approaching a key reistance trendline and also a key level 1.27591. These are key levels and while the price is contained below these two, we expect nothing but a possible momentum to the lowerside. The view can only be invalidated in case the price breaks above 1.27591, if this is true, then further move to the upperside is expected with the next ideal target being 1.29400. On the flipside, should the price breakout below 1.2492, then this will be an ideal place to look for a sell towards 1.2405.
Trade Recommendations:
Wait for a bounce from 1.27591 to pick a low risk sell.
Origin: FreshForex
