Commentary: Bigger picture, the count is not too clear but Cable is testing the upper end of its range near 2.0494. A break through this level may give way to a big breakout. We are showing the daily chart today with the trend channel that dates to May 2006.
A breakout could lead to a push much higher. However, be careful because the pair may be in a larger correction from 2.0654 (similar to the EURUSD).
Strategy: Flat