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Elliott Wave Analysis: GBPUSD Looking Lower

Elliott Wave Financial Service
By Elliott Wave Financial Service

GBPUSD made a sharp and strong decline in the last two weeks, with another leg down yesterday which can be wave 3) headed to 1.2750 near-term projection level. In fact current declien can become even more extended and sharper if we consider that wave 3) is normally the strongest leg in a five wave sequence. As such, we remain bearish on pound as long as 1.3030 holds.

GBPUSD, 4H

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Elliott Wave Financial Service
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