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GBP/USD Outlook After 1,000 Pip Decline

Discussion in 'Technical Analysis' started by Kaitlin, Oct 10, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The GBP/USD decline most likely completed a wave 3 (green), although an extension of wave 3 is possible if the down trend continues soon. The alternative is that a wave 4 (green) retracement started. The Cable is expected to respect the Fibonacci levels of wave 4 vs 3.[​IMG]

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