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GBPUSD Trading Sideways In A Triangle

Discussion in 'Technical Analysis' started by Kaitlin, Apr 19, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    GBPUSD is trading sideways since start of March and shows three waves in each leg so looks like that pair can be trapped in a triangle formation, making black wave IV. This is a five wave pattern, labeled as A-B-C-D-E in contracting shape. It's a very powerful structure that occurs[​IMG]

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