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GBPAUD: Elliottwave Structure suggests pullback to 2.11 area

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 23, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Best reading of Elliott wave cycle suggests decline to 2.078 ended wave (X). From this level, pair is rallying higher in wave W in double three structure where wave (w) ended at 2.13, wave (x) ended at 2.102, and wave (y) of W is proposed complete at 2.1487. Near term, as 2.1487 level holds, pair is expected to pullback in wave (w) towards 2.1056 - 2.1139 area, then it should bounce in wave (x) before turning lower one more leg towards 2.10 area to complete wave X pullback. While 2.0788 pivot

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