Wave Analysis
Instead of continuing to the upperside after breaking above 1.25193, the cable pulled back to the lowerside and is now trading below the same level we’re waiting for a buy from. Now that the price is below this level, we expect nothing but a possible momentum to the lowerside. In my opinion, this is a mere correction and may not go beyond the support level 1.24530, a break below this level will push the price even further to the lowerside with the next ideal target being 1.24060, only a break below this level will push the price massively to the lowerside.
Trade Recommendations:
Expect a decline towards 1.24530.
Origin: FreshForex
