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Sunday, January 9, 2011

EUR/GBP - More downside to come

I thought, that the wave [4] correction was over at 81.18, but the latest development has change that view. The overlapping structure call for more downside and the next obvious correction-target is 76.92 - 77.82 area.
The entire decline from 97.99 is filled view overlapping waves, which is only seen in corrective waves, fitting the wave 4 count. The ideal time for this wave [4] bottom is near April 13.

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