GBPUSD has halted its decline as anticipated, supporting the idea that a smaller degree countertrend advance was underway. So far, the cited resistance level at 1.2828 proved to be a tough nut to crack. At this stage, the bottom line remains that backing and filling should prove corrective, setting the stage for further decline. Read More

Cable moved lower, reaching the cited target as anticipated and the decline eliminated the alternate scenario that we have been tracking. Therefore, today we have one hourly count to discuss. Read More

Cable scored a lower low for the move, approaching the cited target level and that is about it. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

GBPUSD extended its decline as expected and the first cited target has been reached. We will continue to follow the path of least resistance until Cable provide us with evidence to suggest that an interim bottom is in place. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

Cable has eclipsed the main count's confirmation point and is getting closer to our first cited target. Over the past week we have been discussing an alternate count in the "Food For Thought" section. Following the last dip to new lows, it is time to upgrade that count to first alternate count status. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

GBPUSD continued to drift lower, supporting the main count's view. 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 lower low in line with the bearish interpretation -- dropping below the initial confirmation point for the main hourly count --. We will continue to maintain the bearish outlook as long as GBPUSD remain below the main count's invalidation point. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

The sideways price action adds 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

GBPUSD remains locked in a tight range, leaving both counts valid. We'd want to see a sharp decline to support the main count's view. On the other hand, an advance above the alternate's count confirmation point would open the door for higher highs to come. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More

In our most recent analysis, we mentioned that it is possible to view the countertrend advance as complete and that we want to see evidence to support that view before jumping on the bearish wagon. On Friday, the drop below trendline support hints that we are on the right track. We still want to see a drop below the main count's confirmation point to gain further confidence in the bearish call. As always we will wait for either count's confirmation point to be reached to determine the highly probable count. Read More