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GBP/USD Breaks Above Bearish Channel Within ABC Zigzag

Discussion in 'Technical Analysis' started by Kaitlin, Sep 13, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The GBP/USD broke above the resistance (dotted orange) with bullish momentum. The wave 5 (blue) could see an extension with 5 inner waves (purple). A break below the 100% Fibonacci level of wave 2 vs 1 invalidates this wave structure. A break above resistance (yellow line) could see the continuation[​IMG]

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