[B]Commentary:[/B] With 5 waves up from 2.0056 and with Cable pressing against the resistance line drawn off of the 6/12 and 7/3 highs, the risk of a reversal is high.
We are looking for a correction to breing price back to at least 2.0468 and possibly parallel channel support (near 2.0375 today but increases 30 pips/day). The structure is bullish as long as price is above 2.0203. [B]Strategy:[/B] Flat