Cable Is Reaching Higher
Gregor Horvat | Aug 26, 2016 03:16AM ET
On cable we see a potential low in place after that strong upward reaction from 1.2865 last week, where market might completed a deep A)-B)-C) retracement.
We know that when a correction is finished market tends to turn into a new impulse, so ideally pair is now trading within a new bullish cycle, specifically in black wave 3 or C, if recent pullback to 1.3036 labeled as wave 2/B is already completed.
If we are correct then 1.2865 should hold; break beneath that price will invalidate the count.
GBPUSD, 4H
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