Aug 13: GBP USD - New scenario

If we use the cable chart I posted on Aug 10, today can not be considered a major ITD turning point. In the Aug 10 chart, we are travelling to ITD 8 low with average turning date of Aug 24. Today Aug 12 would be too early to be considered as ITD 8 low. If we use this Aug 11 chart, we must conclude that the rally today is just a sucker rally and will be brought down again.

However, there's another possibility that ITD 1 inverts. This scenario fits well with the idea that today is an ITD turning point. In this new chart, today can be considered ITD 7 low. Notice in this new chart the difference in ITD count position. In this scenario, we are travelling to ITD 8 high due around Aug 24.