Wave Analysis
After hitting the highs of 1.26710, the cable pulled back to the lowerside but could not go below the 4 hour support level 1.25400. We expect the bounce from 1.25400 to have marked an end to the corrective wave (ii), that the current bullish price rally to be the continuation of the impulsive wave (iii) to the upperside and should break above the previous week’s highest towards 1.310 and could continue even higher. This view can only be invalidated in case the price bounces off from 1.26710.
Trade Recommendations:
Buy the cable with your target at 1.301.
Origin: FreshForex
