GBP/USD - 4 HRS CHART...
WAVE 3/C TOP LIKELY TO BE AT 1.9675...

The Cable rally has extended past 1.9507 and tested the 78.6% of 1.9675-1.9184 at 1.9569. As long as price remains below 1.9675, the rally from 1.9184 can be classified as an A-B-C correction. However, the retracement is deep and price needs to turn lower very soon for a bearish outcome to remain favored. A rally above 1.9675 would suggest that the decline from 1.9915 was corrective and that price is headed to a new high (above 1.9915). The bullish structure remains intact as long as price remains above 1.9436.