Cable remains locked in a tight range, adding little to the overall outlook. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

Cable scored a higher high for the move in line with the triangle scenario. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

The lack of downside follow-through is more in line with the triangle scenario that we have been tracking. We still want to see prices registering higher highs to gain confidence in the near-term bullish outlook. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

The sideways consolidation continues to have the upper hand. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

Cable continued its sideways consolidation for the second session in a row. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

GBPUSD traded within a range, in line with the idea that a triangle is underway. We still want to see further sideways consolidation to lend credence to the triangle scenario. Conversely, if the re-test of trendline support is complete, we will see an impulsive decline that'd support the bearish outlook. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

Cable continues to score lower lows for the move, supporting the bearish outlook. The pullback from the 1.3383 swing high is -- so far -- in three waves, we want to see a five-wave decline to gain confidence in the bearish count. The presence of that three-wave retreat, leaves the door open for the uptrend (for now). As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

Cable has continued to score lower lows for the move, more in line with the idea that a top is in place. Whether that top is an interim or significant top, remains to be seen. On the other hand, the most recent decline leaves the bullish count on thin ice. A drop below its invalidation point would further favor the bearish outlook. Read More

Cable's dip -- one pip below the bullish count's invalidation point -- invalidates the bullish count, However, the lack of downside follow-through leaves GBPUSD vulnerable to higher highs. Therefore, I am modifying the bullish count to reflect the most recent price action. On the other hand, we want to see an impulsive decline to suggest that the uptrend has run its course. It would take a solid evidence to ditch the bullish outlook and embrace the bearish interpretation. Read More

Cable continues to drift lower, casting further doubt on the bullish outlook. As always, we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More