Wave Analysis
Instead of continuing to the lowerside after breaking below 1.21068, the cable continued massively to the lowerside and is still very much bearish. Now that the price has pulled back to the upperside and closed above 1.21068, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above 1.21980 towards 1.25090. This view can only be invalidated in case the price breaks again below 1.21060.
Trade Recommendations:
Rebuy the cable from 1.21068.
Origin: FreshForex
