Commentary: The short term structure in the GBPUSD has been unclear for some time. Given that the EURUSD remains bullish and that the GBPUSD remains within its weekly bullish channel, a bullish bias is warranted for a potential test of the resistance trendline near 2.1000/2.1100.
However, the alternate count treats the entire rally from 1.9651 as a large B wave, so be careful if attempting to play a breakout as the pair is testing the July high (2.0654) this morning.
Strategy: Flat