Commentary: We maintain that larger wave A is complete at 1.9957 and that Cable will drop to at least former support at 1.9727. A deeper decline into the 61.8% of 1.9337-1.9957 at 1.9574 is possible. Bigger picture, we view the entire rally from 1.9337 as the beginning of a larger corrective advance.
Strategy: Bearish, against 1.9960, target 1.9600
Al Bawaba
