Yesterday we stated that “Corrections are expected along the way and we’ll look to identify the end of those corrections as they unfold. Coming back to 1.9942 (congestion) is possible over the next few days. It is still possible (although we put the probability as low) that a triangle is unfolding and that a D wave will begin soon and end near 1.96. Our strategy is to take some profits now and hold the rest for a rally through 2.04. Move risk to 1.9810.” Visit our recently updated British Pound Currency Room for specific resources geared towards this currency. STRATEGY: Bullish, against 1.9810, target 1 is NOW, target 2 TBD