As we can clearly observe, the price of The Cable has been dropping for quite some time. After an impulsive move, a correctional move is always needed. Thus, we will be closely monitoring the current price action and waiting for a nice reversal pattern to be formed before we go long and aim at least for the 0.618 Fibonacci retracement level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.