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Thursday, February 20, 2014

GBP/USD - A more complex correction is unfolding, but we should soon see the next rally higher.

GBP/USD

Important short term resistance at 1.6741 has protected the upside and we are seeing a more complex correction unfolding. The former ideal target near 1.6624 is still in play. From 1.6624 or upon a break above 1.6741 we should see the final impulsive rally in wave i of 3 higher towards at least 1.6862 and possibly even higher towards 1.6997.

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