British Pound Correction Complete at 2.0256

Commentary: Near term (this week), it looks like Cable is likely to exceed 2.0494 but we maintain that everything from 2.0654 is part of a larger correction such as a triangle or a flat. A potential reversal point is where the advance from 1.9879 would equal the 1.9651-2.0366 advance, at 2.0593.

That would compete what we are treating as wave B within the large correction. Very short term traders may wish to trade from the bull side against 2.0256. Support is at 2.0360/80 and the objective is the mentioned 2.0593.

Strategy: Look to establish bull position near 2.0360/80, against 2.0256, target 2.0593