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Wednesday, March 26, 2014

Elliott wave analysis of EUR/GBP - Short and medium term counts

EUR/GBP

The wave iv correction from 0.8400 is still unfolding and will ideally reach the 38.2% corrective target of wave iii at 0.8319 before the final rally in wave v higher towards at least 0.8410 and more likely 0.8468 is seen to end first wave of the larger wave 3 (see the larger count below).

Wave 2 ended perfectly at the 61.8% corrective target of wave 1 and wave 3 higher is now developing.



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