Currently in Wave 3 after a Wave 2 pull back to almost spike up to the 76.4% around $1.2250. Looking for the 161.8%-176.4% Fib extension around $1.1750 (ideally lower to the $1.17 38.2% of the bigger range).
Too many people this week have been trying to catch the bottom of this move losing money trying to go Long on Gold. Maybe now we bounce off the 61.8% back up. BUT IF we drop below, we will target $1600 around the 76.4% Major Key Level.
Cable has done what we wanted since calling longs last year to $1.40s after Brexit had been sorted. Now it's rangebound at the highs. So can look to trade this range or patiently wait for price to make its next big move. There is certainly potential and scope for $1.50 so am sure Traders will be reviewing this providing USD Index remains Bearish this year.