Wave Analysis
Despite the small bearish pin bar seen during the previous trading week, the cable has neither made a move to the lower side or to the upper side. Instead, the cable is now rallying few pips around this week’s opening price. We’re waiting for a clear breakout below 1.30706 to confirm a possible rally to the lowerside and should break below 1.27252. The anticipated bearish price rally is the unfolding of the impulsive wave (c) but should have an ultimate target at 1.20000. We will only recommend a buy position in case of a bounce from 1.30708.
Trade Recommendations:
wait
Origin: FreshForex
