Commentary: We maintain that “the decline from 2.0101 does not look complete. If the decline from 2.0101 is a 5th wave, then the fall should divide into 5 waves itself.” At this point, the decline from 2.0101 is not in 5 waves. Also, the short term EURUSD bearish bias favors additional GBPUSD losses. A measured objective is at 1.9525. Cable may need to spike above 1.9889 before the next decline begins (this would complete an expanded flat).
Strategy: Bearish, against 2.0101, target 1.9530
Al Bawaba
