GBP/USD - Forgot to add this chart of Cable. We are most likely seeing a break down of minor support at 154.30 and should be headed for the next support at 151.50. Longer term we should see a decline to at least the 134 - 137 area, but I would not be surprised to see a continuation down towards the 118 - 119 area.Friday, December 30, 2011
Elliott Wave analysis on GBP/USD
GBP/USD - Forgot to add this chart of Cable. We are most likely seeing a break down of minor support at 154.30 and should be headed for the next support at 151.50. Longer term we should see a decline to at least the 134 - 137 area, but I would not be surprised to see a continuation down towards the 118 - 119 area.
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