Cable breaking 1.2085 resistance, new support?

Gregor Horvat Wavetraders

Cable has made a nice bullish turn from 1.1840 area so there can be more gains coming after current intraday pullback that already has a corrective look for wave 2/B. However, because of important US CPI and volatility, there is a chance that the pair will retest the lower supports still, near 1.2085. A daily close above 1.2250 will suggests that the correction is finished. In both cases, we expect more gains while the market is trading above 1.2085.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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