On Tuesday`s session, cable unfolded upwards as expected and target was reached and exceeded by 9 pips before reversing directions and unfolding towards the downside.
We are updating the main count according to the latest price action and both main and alternate hourly counts agree for the short term view. However, the alternate hourly count expects downwards movement to prove corrective and that Cable would resume its uptrend.
Main hourly count does not provide us with actionable data for the short term and we will wait for further subdivisions to calculate short term targets. Main count expects that Cable has found a mid term top and that Cable has started to unfold towards the downside and we are adding a long term initial target at the end of the daily chart analysis.
As always we will wait for either count`s confirmation to be reached to determine the highly probable count.