GBPUSD

Potential Bearish reversal on the Cable :

In this frame of Cable’s weekly chart, the labels of Primary degree interpret the overall correcting process from the 2.1161 high (Nov 2007), as a W-X-Y formation.

Based on this alternate count, Intermediate wave (B) of Primary wave Y(circle) may have completed at 1.5930, and following Intermediate wave (C) lies ahead ( prior to the end of overall correction).

The wave (C) has potential to achieve the 1.3304 target, where equals with the wave (A).

GBPUSD - Weekly

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