During the previous trading week on the last trading day, the cable spiked lower and could continue short in case the support 1.2770 is broken clearly. Otherwise, as long as the price remains above 1.2727, we expect a possible rebound from this level to buy the cable towards 1.33. Any clear breakout below this level will push the price to the lower side but should not go beyond 1.2456. Expect a similar wave count in EURUSD, AUDUSD and GBPCAD. These pairs have a strong positive correlation of up to +86% and will move the in same direction during this intraday.
Trade Recommendations:
Expect a possible rebound from 1.2727 to buy the cable towards 1.33
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