Cable is in an impulsive recovery mode on the intraday basis and seems like it’s still pointing higher for wave (5), as current intraday consolidation looks like a bullish triangle pattern in wave (4). So, once a triangle in wave (4) fully unfolds, watch out for a break higher into wave (5) towards 1.25 – 1.26 area before we will see a bigger, deeper and higher degree slow down.
