The monthly chart is still in a down Fibonacci ABCD swing with the D extension at 0.9238 suggesting that the Cable will weaken substanstially to the Greenback over time. The Weekl Fibs are also in a Down ABCD swing. There is a new Down Fibonacci AB Boundary on the Daily chart and price is currently retracing inside this new down AB Boundary. I am waiting for price to retrace to the Daily .382 at 1.2125 and then as soon as a counter trend line is broken then I shall deploy my trading strategies on lower time frames in a Bearish capacity.
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