British Pound Breaking from Consolidation

Commentary: We are showing the same chart as yesterday because the wave count near term is not very clear. The GBPUSD is breaking through a consolidation that has lasted since 10/1.

This as well as the intact trend channel suggest that Cable is likely to test at least 2.0654 soon. A bullish bias is warranted as long as price is above 2.0285.

Strategy: Flat