Commentary: Similar to the EURUSD, Cable continues to exhibit impulsive characteristics to the upside. The GBPUSD is nearing potential resistnce from the 100% extension of 1.9676-1.9898 / 1.9732 at 1.9954.
A rally through here exposes the 161.8% extension at 2.0091. Remember, we are expecting a high to be registered above 2.0131 before a multi-month top is put in place. Strategy: Bullish now, against 1.9676, targeting 2.0131