In my last long-term update from June 18 - 2016 I was calling for a decline in Cable to 0.9534, which still remains my target.
However, the B wave opted for the alternate route, by breaking above 1.4770. I also showed that alternate count for wave B in my June 18 - 2016 update (You can see that post here).
Ideally wave 2 should have completed with the test of 1.2442 at the year-end 2018 and wave 3 towards 1.6345 should be developing. However, the political uncertainty due to the Brexit and shift of Prime Minister in the UK is weighing on the GBP and we might even see Cable break below 1.2442 shortly before starting to move higher in wave 3.
B-waves are notoriously difficult to track and trade. They can take on any shape the want and shift to a new count when you least awaits it.
However, the long-term count remains the same, which is lower to 0.9534 once wave C takes over.
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