GBP has been on plan rising into wave (iv) targets this week. The futures have a little more room to develop if needed but the FXB chart is pretty close to the limit for a wave (iv). I have also added an alternate on the FXB chart where the drop from the wave [iv] high in 2018 is an ending diagonal where the recent low is wave (i) and is in either (ii) or ‘a of (ii)’ now.
harts added to this post as I complete them. Full post ETA 10:30.
Bonds had a nice drop from the last chance resist at 165^11. Bears need bond prices to drop under 159^18 as confirmation that ‘c of (b)’ down is in development. My preference is for net lower prices into the cycle low in mid February next year.
Charts added to this post as I complete them. Full post ETA at 10:30.
Bonds broke under the daily moving averages today and thus following the forecast for a ‘c of (b)’ lower. Next minor support is at 161^16 but not a place to expect ‘c’ to end. The earliest place to look for the end of ‘c of (b)’ is 159^17 though lower is typical. Assuming that the cycle in red is active but inverted, we should expect net lower till mid November.