dojitrader
Short

Cable projecting a dollar rally ?

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
52 1 0
Cable has lead the way in the past when the dollar started to rally.
Perhaps once again it is giving a warning of things to come.
Unlike EurUsd             - UsdChf             still finishiing wave 1 --- Cable seems to be
seeking a wave 2 and the resistance, just under 1.6500 looks enticing.
Wave 3 will be the reward if that's the case.
How will this projection look on Friday ?
(Wave 4 looks "weird" in relation to wave 2. Perhaps
the principal of alternation is at an extreme.)
No need to wait for Friday !!!
I still like the basic idea of selling resistance.
Will take another look at the structure
as it approaches resistance.
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