Wave Analysis
yesterday, the cable rallied intensely to the upperside and even went above the hourly resistance zone 108.620-108.575. As long as the price remains above this zone, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (v) and should breakout above today’s highest high, towards the next level 110.00 or even higher. on the flipside, only a clear breakout below 108.620 may trigger a sellers sensation towards 108.215.
Trade Recommendations:
As long as the price remains above 108.620, we’re looking for long term buy orders.
Origin: FreshForex
