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GBP/USD: Elliott waves (Feb. 3)

Daily. The pair keeps forming the wave B which represents a global wave plane. At the moment, we are seeing construction of the final impulse [c].

Chart. Daily GBP/USD

H4. Here’s the detailed layout of the impulse [C]. The pair began construction of a correctional wave (IV).

Chart. H4 GBP/USD

H1. It’s not clear what shape will the wave (IV) take, but we may assume, judging by the beginning of it, it will take form of a double Zigzag. We can even see the corrective decline within this wave in the next 2 weeks.

Chart. H1 GBP/USD

Roman Petuchov for FBS

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