Cable made a strong rebound from the 1.3135 support, suggesting the market could be bottoming, possibly completing an ABC, zigzag pattern. So, with the current break above the channel resistance line in an impulsive fashion into wave A/1, we should watch for more upside, at least in three waves, up to 1.37 area or higher.
At the moment we can see some retracement from 1.36 resistance, ideally its wave B/2 that can retrace the price back to 1.34 support area before a continuation higher within wave C or 3.
H&S pattern is also something we have to consider here; the bullish path.
GH
At the moment we can see some retracement from 1.36 resistance, ideally its wave B/2 that can retrace the price back to 1.34 support area before a continuation higher within wave C or 3.
H&S pattern is also something we have to consider here; the bullish path.
GH
Trade attivo
Perfect bounce from 1.34 move drive by Powell, much room now ahead
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