Yesterday we projected an intraday target price of 1.32000 (New Price Extreme), To complete it's bullish momentum towards the Golden Ratio. Watching price action today based on the Guideline of Alternation.
Wait for further confirmation of a bearish take over (sideways correction or a sharp retracement).
Pretty tough one to call, but I think we may get a minor retracement, followed by an attempt to the top before a more longer term breakdown of sterling. HOWEVER, US data has been poor and the dollar weak so if the data coming out continues on its current trajectory, we may see stronger sterling. I personally won't be buying as I think a everything has already gained substantially against the dollar.
I would like to see cable trade 13.26 before making any moves
Pretty tough one to call, but I think we may get a minor retracement, followed by an attempt to the top before a more longer term breakdown of sterling. HOWEVER, US data has been poor and the dollar weak so if the data coming out continues on its current trajectory, we may see stronger sterling. I personally won't be buying as I think a everything has already gained substantially against the dollar.
I would like to see cable trade 13.26 before making any moves