The break back below 1.2285 is disappointing and has forced me to change my longer term count.
The new Count shows that a running triangle is the most likely formation developing. As can be seen the triangle is almost finished.
Looking at the final e wave I think we will see a minor rally towards 1.2303 followed by a decline to 1.2207 to finish the this final wave e and B and should be followed by a new impulsive rally higher towards at least 1.2755 and possibly even higher.
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