Market Analysis for Jan 7th, 2020

GBPUSD: we have initial impulse up off the low at 1.3052. Basically I maintain higher targets for both counts (3 waves nano corrections) - but over 1.3283 I will have to discard the Alternate 1 count (it's current version at least) and adopt wave (c) of circled b (Alternate 2 Micro).
Below 1.3052 a high of sorts would be confirmed and the Alternate 1 Micro becomes my new primary with ideal target at 1.26711

BaseCase - GBP= - Alternate 2 Micro - Jan-07 0800 AM (1 hour)
BaseCase - GBP= - Alternate 2 Micro - Jan-07 0800 AM (1 hour)
BaseCase - GBP= - Alternate 1 Micro - Jan-07 0754 AM (1 hour)
BaseCase - GBP= - Alternate 1 Micro - Jan-07 0754 AM (1 hour)
BaseCase - GBP= - Primary Micro - Jan-07 0755 AM (1 hour)
BaseCase - GBP= - Primary Micro - Jan-07 0755 AM (1 hour)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.