Just as we mentioned during the previous trading day, the cable declined steadily and is still showing signs of falling even further. We went short previously and is still holding onto this position, my expectations is that the price could break below the supportive trendline, further to the lowerside with the next ideal target being 1.26960. If you're not already in a short position now, you could wait for a breakout below this trendline to confirm a possible rally further to the lowerside. A bounce from the immediate trendline is a good place for a buy position.
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