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GBP/USD, USD/JPY Move Quickly In Powerful Momentum Swings

Discussion in 'Technical Analysis' started by Kaitlin, Oct 6, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The GBP/USD seems to have completed 5 waves (grey/orange) within wave 3 (blue). A wave 4 retracement (blue) should see price respect and turn at the shallower Fibonacci levels like 23.6% and 38.2% Fib. A break below the bottom should build a small bear flag (orange arrow) emerge before dropping[​IMG]

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