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Sunday, August 9, 2009

GBP/USD has likely topped



The odds favor that Cable has finished its wave 4 and we should be at the very start of wave 5 that will ultimately have a traget below wave 3 at 134.98.
Moving in closer we can see a five wave move from 159.82 to 170.42, again not the textbook five wave upmove, but it's countable and a move below 163.37 and more impotantly 159.82 will confirm that wave 5 down is in motion.







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