British Pound Reversal

[B]Commentary[/B]: After spiking below 2.0179, Cable has embarked on an impressive rally. This leaves the decline from 2.0461 as either wave b of a flat correction or wave C of a correction from 2.0651. Both cases are bullish near term and favor a rally through 2.0461.

We?ll wait until 2.0461 to be exceeded before deciding which count to favor. The alternate count is shown in red. [B]Strategy[/B]: Flip to bullish, against 2.0155, target above 2.0461