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Elliott Wave VIdeo Analysis: GBPUSD

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Aug 30 2018

Hello traders!

Cable is turning down this year after a very big but overlapping recovery from 2016 lows, labeled now as completed red wave IV) because of a sharp decline out of an upward channel. However, price has recently found some support around 1.2770 from where we may see a new corrective rally labeled as wave II, which can make 600-700 pips pullback based on past price movements and ranges.
 
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