Cable Undergoing A Consolidation; Possible Reversal Near 1.2350

British Pound / U.S. Dollar (FX:GBPUSD)

FX:GBPUSD British Pound / U.S. Dollar

gbpusd elliottwaves correction impulsive

Cable fell to 1.2080 two weeks back where pair found a support and from there turned up in impulsive fashion. It looks like a nice reversal spike that sent bullish price move in play. We are now looking up towards the 1.2600 area, after wave (4) pullback which can be looking for a base at 1.2350-1.12400 support area.

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