GBP/USD Impulse Breaks Below 1.28 Yearly Low

Discussion in 'Technical Analysis' started by Kaitlin, Oct 5, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The GBP/USD has moved below the low at 1.28 of earlier this year and is now building a bearish impulse which has been labelled as a wave 3 (blue). Price has now reached the 261.8% Fibonacci target, which could cause a retracement. The next bigger target could be near 1.25.[​IMG]

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