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Cable reached a multi-year low after a capitulation back in September 2022. Notice that the price is looking impulsive up to 1.23-1.24 resistance where bulls will try to form a breakout, but after a fourth wave pullback. We see a potential flat correction since December 2022, with subwave C already breaking to 1.18, ideal zone for a new turn higher. A jump back above 1.2060 will be important evidence for a bullish reversal.

At the same time we are also tracking second count; also a bullish one, now with wave (C) of a zigzag searching for a support.

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