Cable turned lower in the last few months and so far it’s still showing a three–wave drop from the July 2025 highs. It looks like this weakness is now in the third leg of decline, so it could be the final leg of this counter-trend move. But we still have to consider that one more swing low is missing, meaning a retest of the 1.30 lows can show up to complete five waves down from 1.3728. Ideally, that would be the final missing part to complete wave C of wave 4 in the next few days.
For a bullish turn we still have to be patient and wait for a move back above 1.3250 to confirm that bears are coming to an end.
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Grega
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