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Tuesday, April 1, 2014

Elliott wave analysis of EUR/GBP - Short term count

EUR/GBP

I'm still looking for a powerful wave iii rally higher towards at least 0.8586 as long as support at 0.8249 protects the downside. A break below 0.8249 will delay the expected rally for a Little more downside pressure towards 0.8226, but no matter the downside potential is very limited from here and our focus should towards the upside for a break above 0.8297 and more importantly a break above 0.8331 that confirms wave iii higher is developing.

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