[B]Commentary[/B]: Like the EURUSD, the structure in Cable is bullish but the correction that began at 1.9947 is likely to continue for a little longer. Waves 2 and 4 are often similar as far as time is concerned. Wave 2 took 40 hours to complete and wave 4 has only been in progress for 16 hours.
So look for weakness/consolidation for the rest of the New York session before the 5th wave rally begins (which should exceed 1.9947). Support is concentrated between 1.9835/78, which is the 23.6%-38.2% of 1.9655-1.9947. The bias is bullish as long as 1.9780 is intact.
[B]Strategy[/B]: Look to align with bulls close to 1.9850, against 1.9780, target 1.9947