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GBPUSD Corrects Heavy Losses From Asia, Sentiment Remains Negative

Discussion in 'Technical Analysis' started by Kaitlin, Oct 7, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Cable bounced back to 1.2450 zone after overnight's crash that spiked below 1.2000 support. Extended wave C of five-wave cycle from 1.3443, met its 200% Fibonacci expansion target, with correction under way, signaled by Slow Stochastic reversal from oversold zone. Bounce from session low hit 1.2475 (Fibo 61.8% of past[​IMG]

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