Cable is making a strong rise away from 1.2364, clearly in an impulsive fashion, which can see an extension up to 1.300-1.3140 area for Wave C. But we know that nothing moves in straight lines, so at the moment we see price trading at the beginning of bigger degree wave four, which can unfold a three wave decline towards the area of the previous minor Wave 4) at 1.2765 level. A new bounce will be expected once deeper correction shows up.