Since making a most recent low one year ago in March at 1.4380, cable has risen in value to the Australian dollar with relentless force making minimal retracement. At present, we see a pullback on this weekly chart showing Kijun sen support at 1.7914. This looks to be wave 4 in progress. A bounce is expected off of this floor to test daily Tenkan-sen resistance at 1.8188. If support is broken, however, price needs to stay above 1.7482 for this wave count to remain valid according to Elliot Wave Theory. #ichimoku #forex #cable #aussie
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