Cable advanced as anticipated in line with the main hourly count. We still want to see further rally to favor the bullish outlook. Read More

GBPUSD traded on down, confirming the alternate count and it was 3 pips shy of our target zone. This count suggests that the downtrend is not over, in fact, it suggests that it is far from complete. However, a corrective bounce seems in the cards for Cable before resuming its downtrend. Read More

Cable advanced past the main hourly count's confirmation level but we are not out of the woods just yet. We still want to see a five-wave advance from the 1.2443 level, preferably above the main count's final confirmation point to suggest that we are on the right track. We are adding an alternate daily count which suggests that the downtrend is far from complete. Read More

Even though GBPUSD inched down, reaching and exceeding the cited target level, the drop below the main hourly count's invalidation point negated that scenario. It is early to tell with confidence whether a bottom has been registered. We would want to see a five-wave advance above the main hourly count's confirmation point to suggest that a significant bottom is in place. On the downside, a print below the alternate count's confirmation point (the same level where the main hourly count's invalidation point is) to imply that lower lows remain in store. Read More