[B]Commentary:[/B] See yesterday?s analysis for the daily chart and longer term outlook. Today we are focusing on the short term chart (60 min) because Cable may be at a turning point. The rally from 1.9621 is in 5 waves and possibly complete. An initial 5 wave decline from the top (2.0203) would signal the reversal and a bearish opportunity. That decline may be underway now. Given the quadruple RSI divergence on the daily that we pointed out yesterday, a cautious bearish stance is warranted against 2.0203.
[B]Strategy:[/B] Flat
