Cable has seen a pretty nice reversal after hitting a new high around 1.3869, moved above the 2025 high, before the market turned lower. Notice that this current weakness has already extended below the lower trend line support connected from the November 2025 lows, which also acted as resistance around 1.3560 a few sessions back. So apparently we are now in a stage where we could see more weakness, possibly lower into wave C/3 of a new sequence. Alternatively, it could be a fifth wave of a leading diagonal, but even in that case we still see room toward the 1.3350 level that we discussed in the last update.
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