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Trader, analyst and instructor with a 6-year experience

GBP/USD: Elliott waves (Jan. 13)

Weekly. The wave B represents a global plane. GBP/USD is currently forming a final impulse wave [c] of B.

Chart. Weekly GBP/USD

Daily. The pair completed the wave (III) of [C]. At the moment, we see the beginning of formation of the correctional wave (IV).

Chart. Daily GBP/USD

H4. The pair may be forming the first downward Zigzag, which is the beginning of wave (IV). When the wave b is complete, we’ll see the price decline in the wave C. Most likely, this move will last during the next week.

Chart. H4 GBP/USD

Roman Petuchov for FBS

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