On Friday’s session, Cable confirmed the alternate count, soon after, the first target was reached and exceeded by less than 3 pips before reversing directions, making new lows.
The nature of the decline off Friday’s high keeps a couple of interpretations on the table. The main count expects an impulsive decline while the alternate count expects the counter-trend advance to have the upper hand for the next 24 hours.
We will wait for either count’s confirmation point to be reached to determine the highly probable count.
Have a great weekend!
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