After the end of the inner corrective wave (iv) around 1.3163, the next impulsive waves (iv) and (E), extended higher than anticipated and even broke above the upper resistive trend line and is still way above this trend line. This break is a possible bullish dominance and means the price could rise even further. Although this upward rally is highly anticipated, its wise to wait for a minor pullback to the lower side to long the cable at the least risk possible. This pair will have a similar price action to EURUSD, NZDUSD, AUDUSD, GBPNZD, AUDUSD and EURNZD. These pairs have a strong positive correlation and will move in the same direction during this intraday.
Trade Recommendations:
Wait for corrections to the lower side to long the cable with an ideal target 1.35.
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