[B]Commentary[/B]: The GBPUSD is also unfolding as expected. We are treating the rally from the 7/29 low at 2.0181 as wave B in a large A-B-C correction from 2.0654 (same pattern as the EURUSD). A triangle has formed from yesterday?s high (2.0349) and expectations are for a terminal thrust higher towards 2.0400/73.
2.0400 is the 100% extension of 2.0181-2.0378/1.0203 and 2.0473 is the 61.8% of 2.0654-2.0181. In summary we are looking for a rally to 2.0400/73 before a top and reversal that brings price under 2.0181. [B]Strategy[/B]: Remain bullish against 2.0181, target 2.0400 (flip to short between 2.0400/73 against 2.0654, targeting a drop under 2.0181)