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GBP/USD Completes Wave-4 At 50% Fib And Breaks Support

Discussion in 'Technical Analysis' started by Kaitlin, Jul 8, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The EUR/USD needs to break below the support (green lines) levels before a wave 3 (green) continuation is possible and likely. For the moment a larger wave 2 (brown) correction seems to be taking place via a WXY (purple). A break above the 100% Fib at 1.1428 invalidates wave 2 (brown).[​IMG]

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