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GBP/USD: Elliott waves (Mar. 10)

By Roman Petuchov for FBS

Weekly. GBP/USD is forming a rising impulse wave [c] of B.

Chart. Weekly GBP/USD

Daily. The pair is forming an upward impulse wave V of (III). When this wave is formed, we’ll see the correction (IV).

Chart. Daily GBP/USD

H4. The chart shows the layout of the wave [5]. It seems that the wave (5) of [5] will take the shape of the Diagonal Triangle. So, in the near future we expect slow growth with deep corrections to the impulse waves. The approximate structure of the move is shown at the picture.

Chart. H4 GBP/USD

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