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Currency Analyst since 2010

GBP/USD: weekly wave analysis

Weekly. The pair’s forming a global downward Zigzag ABC. After having completed the wave plane B, GBP/USD began falling within the new extended downtrend C.

Daily. The market has formed impulse [1] and the correction to it. At the moment, we see the formation of the first waves which will continue downtrend.



H4. Wave 2 looks completed. This week we expect a decline within a new downward impulse 3. The pair will renew the lows.

GBP
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