Cable resumed its decline and the first cited level was reached and exceeded. We will maintain the bearish count as long as the market remains below its invalidation point. I am presenting an alternate triangle scenario in the "Food For Thought" section which expects further advance, following the completion of the potential triangle. Read More

The decline from the most recent swing high has yet to prove impulsive to suggest that the primary scenario is on the right track. Cable dipped below the main hourly count's confirmation point before bouncing back up. I am maintaining the "Food For Thought" section which explores the upside potential, following a breach of the main count's invalidation point. Read More

Cable traded on down and the first initial target was reached and Cable appears poised for more. I am maintaining the "Food For Thought" section which explores the upside potential, following a breach of the main count's invalidation point. Read More

Today's events produced a hint that we are going to discuss shortly. I am maintaining the "Food For Thought" section which e0xplores the upside potential, following a breach of the main count's invalidation point. Read More

Cable remains locked in a sideways consolidation, adding little to the overall outlook. No evidence yet to support the idea that a top is in place and that the larger degree downtrend has re-ignited. The "Food For Thought" section explores the upside potential, following a breach of the main count's invalidation point. Read More

Cable popped above the most recent high before quickly dropping lower, which is more in line with the main hourly outlook. We still want to see further downside action to gain confidence in the bearish case. The "Food For Thought" section explores the upside potential, following a breach of the main count's invalidation point. Read More

If the main hourly count is on the mark, the market needs to prove it. We want to see prices printing below the main count's confirmation point to gain confidence in the bearish case. The "Food For Thought" section explores the upside potential, following a breach of the main count's invalidation point. Read More

Cable extended its advance as anticipated and -- so far -- it's 3 pips away from reaching the cited target. If the countertrend advance count is on the mark, then it has met its minimum requirement. Allow for slightly higher high before the larger degree downtrend resumes. I am adding a "Food For Thought" section at the end of today's analysis. We discussed the count mentioned there extensively previously. It has been on the back burner for a while and it remains a possible count to keep in mind. Read More

Cable traded on up through the alternate count's confirmation point and the focus is now on up to complete the countertrend advance. I modified the subdivions of wave (ii) green to provide the best fir based on the most recent price action. Read More

GBPUSD extended its advance, reaching the specified target, before reversing gears and registering lower lows. We want to see the market committing to us before we commit to the market. Therefore, we want to see a five-wave decline below the main hourly count's confirmation points to gain confidence in the bearish case. On the other hand, a post above the alternate count's confirmation point would imply that higher highs remain in store for Cable. As always, we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More