Forex

Cable Came Higher As Anticipated; Elliott Wave AnalysisSep 24, 2024

We talked about Cable on September 16. We also shared a free chart, where we mentioned and highlighted a three-wave a-b-c pullback in wave 4 that can push the price higher for wave 5 towards 1.33 – 1.34 area. CLICK HERE

Cable Came Higher As Anticipated; Elliott Wave Analysis GBPUSD 4h Chart From September 16 2024
GBPUSD 4h Chart From September 16 2024

As you can see today on September 24, Cable came nicely higher for wave 5 into 1.33 – 1.34 area, but now that it can be potentially finishing the wedge pattern within wave 5 of a higher degree wave (3), we should be aware of a new wave (4) corrective slow down, especially if we consider RSI divergence.

Cable Came Higher As Anticipated; Elliott Wave Analysis GBPUSD 4h Chart From September 24 2024
GBPUSD 4h Chart From September 24 2024

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