Wave Analysis
Last week, the cable successfully went below the supportive trendline and is still below this trendline. As long as the price remains below this trendline, we expect a possible momentum even futher momentum to the lowerside. The anticipated bearish p[rice rally is the continuation of the impulsive wave (c) to the lowerside and should break below 1.2715 towards 1.2220 or even lower. This view can only be invalidated in case the price breaks and closes above the previous week’s highest high.
Trade Recommendations
Sell the cable with your take profit at 1.2550.
Origin: FreshForex
