Elliott Wave pattern shows that Cable can be completing corrective price action
|Cable has been in bullish phase at the end of 2023; move that is looking impulsive so more gains can be seen after the corrective retracement that can be finished when looking at the 4h time frame below. The reason are current higher swing lows, away from 1.2520 support with the current price now also trying to break the trendline resistance connected from 1.2820 region. As such, more gains can be seen in days ahead, possibly weeks up to 1.29 region.
If suddenly the market comes back to 1.26 area, then alternatively, this can be a triangle in wave four, but still, it's a bullish pattern that sooner or later should send cable higher.
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