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Monday, February 10, 2014

GBP/USD - Look for the final decline in wave v towards 1.6165.

GBP/USD

Wave iv has likely terminated at 1.6427 and I will now be looking for the final decline in this five wave sequence from 1.6668 towards 1.6165 and maybe even lower. The first good indication, that wave v lower is developing is a break below 1.6377 and it will be confirmed by a break below 1.6332.

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