We wrote yesterday that “the GBPUSD tested and held the trendline drawn off of the 6/13, 7/7, and 7/8 lows.
Still, it is likely that wave D of the triangle is underway towards 1.9550/1.96. This is our stance as long as price is below 2.0075.” Cable has drifted lower and is now below the mentioned former support line. There is no change to the outlook for a wave D decline to end near 1.9550/1.96.
