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

Cable remains locked in a sideways consolidation and the lack of a clear five-wave advance keeps the door open for an alternate ongoing wave 4 interpretation. It is possible that the final fifth wave is unfolding as an ending diagonal, but it is still early to draw these labels. The alternate ongoing triangle wave 4 scenario is on the table. However, triangle or not, we want to see a rally through the hourly count's confirmation point to suggest that the larger degree uptrend has resumed. Read More

The post above 1.2976 provides the first hint that the larger degree uptrend has resumed. However, we are yet to identify a smaller degree five-wave advance to lend credence to the bullish case. It is possible that the final fifth wave is unfolding as an ending diagonal, but it is still early to draw these labels. Either way, we want to see a rally through the hourly count's confirmation point to support the ongoing primary wave (1) scenario. Read More

No evidence yet to suggest that the countertrend retreat we have been tracking has run its course, therefore, we will allow for lower to complete that countertrend retreat before resuming the larger degree uptrend. As always, we will wait for either confirmation point to be reached to determine the highly probable count. Read More

GBPUSD inched down, confirming the alternate hourly count and no evidence yet to suggest that the countertrend retreat has run its course. I have increased the degree of the wave count to provide the best fit. We will allow for slightly lower before resuming the larger degree uptrend. Read More

Cable drifted higher which is inline with the bullish outlook. However, prices are yet to eclipse the main count's confirmation point to lend credence to the ongoing uptrend. On the other hand, a decline below the alternate count's confirmation point would imply that a countertrend move is in force. As always, we will wait for either count's confirmation point to be met to determine the highly probable count. Read More

The lack of upside follow-through casts the doubt on the ongoing third wave interpretation, favoring the alternate scenario. As always, we will wait for either count's confirmation point to be met to determine the highly probable count. Read More

The most recent advance suggests that the larger degree pattern that we have been tracking is complete sooner than anticipated. It is early to tell but I am including the monthly chart today to help illustrate the bullish potential of the most recent strength. Read More

GBPUSD continues to unfold as anticipated and we still want to see further evidence to support the bearish case. Read More

GBPUSD traded on down in line with the idea that a corrective bounce has run its course and that the larger degree downtrend has resumed. The focus is on down as long as the hourly invalidation point holds. Read More