Cable popped to a higher high before reversing gears in line with the ongoing corrective structure we have been tracking. Read More

In the previous analysis, we set targets starting from 1.3139. Cable tagged that first target and we will discuss below whether the bounce has run its course. Read More

Cable traded on up as anticipated and both targets were reached. The focus remains on up till Cable shows any sign of weakness as we will discuss shortly. Read More

The post above the hourly count's invalidation point lends credence to the idea that a counter-trend advance has started. As always we will wait for the hourly count confirmation point to be reached to gain confidence in this outlook. Read More

GBPUSD continued to decline and the confirmation point was never reached to suggest that the five-wave decline we have been tracking is complete. The first target for wave (2) black (on the daily chart) was reached and we will continue to favor the downside until Cable shows signs of strength. As always we will wait for the hourly count confirmation point to be reached to gain confidence in this outlook. To recap, as a side note, pay attention to the upper boundary of the impulse channel on the hourly chart. Read More

Cable's decline is in line with the near-term bearish outlook. So far, Cable fell short of the cited target, but if we are on the right track, Cable should have lower lows in store. A corrective bounce should be in the cards for GBPUSD before the final decline to complete the third leg of the larger degree correction. As always we will wait for the hourly count confirmation point to be reached to gain confidence in this outlook. As a side note, pay attention to the upper boundary of the impulse channel on the hourly chart. Read More

GBPUSD traded on up, hitting both our targets and it continued to register higher highs. The sharpness of the advance was more than what we initially anticipated. However, at this stage, a number of clues are starting to emerge to question the sustainability of the recent bullish action. It's aggressive, but today's count suggests that the uptrend is either complete for the short-term or on the verge of a final thrust before succumbing to a corrective retreat. Read More

GBPUSD dipped to a smaller degree lower low as anticipated, however, that low failed to reach the cited target before trading on up. As always, we will wait for the confirmation point to be reached to gain confidence in the bullish outlook. Read More

Cable followed the path we anticipated together to a T. It reached the cited second target and exceeded it by 11 pips before reversing gears. In today's analysis, we are going to cover whether that pullback, signals the completion of the larger degree uptrend or merely a corrective pullback that would set the stage for a final push higher. As always, we will wait for the confirmation point to be reached to gain confidence in the bullish outlook. Read More

As we are all aware, Cable has been consolidating in a sideways trade for the past month, adding little to the overall outlook. Today's analysis suggests that this behavior is about to change. Whether the fourth wave we have been tracking ended as a double zigzag early November or just ended as a triangle, the working assumption continues to favor Sterling over the U.S. Dollar. Therefore, we should expect to see some strength this week. As always, we will wait for the confirmation point to be reached to gain confidence in the bullish outlook. Read More