Cable started the day by drifting lower through the initial confirmation point, However, it has failed to penetrate the final confirmation point by a fraction of a pip before reversing gears and unfolding higher. The counter-trend advance has met the minimum requirement of an expanded flat correction.
At this juncture, both counts have almost equal probabilities. We will let the market decide for us the highly likely count using the the counts’ confirmation points.
The main hourly count expects that downtrend has re-ignited while the alternate count expects further counter-trend advance prior to resuming the downtrend.