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Friday, February 7, 2014

GBP/USD - The next decline towards 1.6109 is developing.

GBP/USD

The expected wave (iv) correction has unfolded very much to the expectations. I'm now looking for red wave (v) towards at least 1.6211 and likely even lower towards 1.6109 as the ideal target to end red wave iii and set the stage for red wave iv higher towards 1.6333.

Longer term I'm looking for this wave C to end near support at 1.5854.

2 comments:

  1. Big Master....sorry to disagree with you...but only after release NFP i think we should know the truly path!

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    1. Hi Zink,

      No problem, I know I',m not always right (if I was this would be no fun).

      Let's see what the NFP bring on th table and as you say I might be a lt wise afterwards.

      Kind regards
      EWS

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