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Bullish Reversal On Cable


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Mar 04 2016

A new high on GBPUSD makes rally from 1.3835 in five waves. And we know what that means right? It means that temporary lows are in place and that cable will most-likely recover much more in the rest of the month with a new big wave four in progress. However, as always there will be pullbacks, and looks like that new one can be around the corner as subwave 5 is trading at some Fibonacci resistance area at 1.4220-1.4250. We will look for a three wave of retracement next week which can be nice structure to join the bullish run.

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