British Pound Tests 2.0000

Commentary: We wrote Friday that “potential resistance is at the 161.8% extension of 1.9883-1.9939/1.9910 at 2.0001.” Cable pushed to 2.0005 and a 5 wave advance (from 1.9621) is complete (or very nearly so).

Thus, a pullback is expected, with initial support at 1.9883. We?ll look to align with bulls close to channel support (see chart above). Strategy: None