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GBP/USD: weekly wave analysis

by Roman Petukhov.

Weekly. The market is moving within the downward impulse C at the moment. Let us consider its markup on the D1 chart.

Daily. A sharp upward wave [4] has been formed on the last section, which, according to the markup on the lower timeframes, is fully completed. Next week, we are expecting a downward market movement.

H4. Waves I and II have been formed. Decline within impulse III has already begun. We recommend you to stick to sales in such a situation.

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