After an attempt to break above the daily resistance level 1.3390, the cable pulled back steeply to the lower side and is still showing signs of continuing even lower. As long as the price remains below the previous week’s highest high, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the corrective wave (4) and should not go beyond 1.25755 where we’ll be looking forward to buying the last impulsive wave (5) towards 1.4455.
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