Marketiva Forex Trading – Cable Back ontrack to Major Trend?

posted by bisnes on 28th, 2007

 

Last two days we saw a very violate movement by GBP/USD,200pips+  ranges.Start from thursday big correction at New York,yesterday we saw a counter attack with about the same amount at London.

With Cable is now trading above 1.9900 area,there is a possibility for a higher target for final wave(wave v).With recent support at 50% of fibonacci retracement we could target at least 2.0200 for final wave v,but Cable first have to break 2.0070 barrier.

I ‘m now move my wave iv to current support at 1.9868 and wave v at 2.0199 with a secure profit at above 1.9900.

More analysis coming next week.

Regards,

Online Bisnes

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