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Cable Can Move Below 1.5800 This Week

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April 10 2012

Cable made clearly five waves down from 1.6060 high broke trend-line support of an ending diagonal and wave (4) swing as well. These are all indications for a bearish trend, especially as rise from 1.5805 looks clearly corrective, labeled as wave (2).
Pair should fall below 1.5805 while 1.6060 critical region holds.

http://www.ew-forecast.com/content/document/image/2397gbp-usd489.3.gif


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