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Elliott Wave Analysis: GBPUSD In a Five-wave Recovery

Cable is trading bullish in an impulsive manner and even more may come, if we consider the weak USD in the next couple of days/weeks. Currently, we are tracking wave »iv« correction, where ideal support would be at 1.3000 psychological level, but it could be even more complex, it may stay sideways or maybe it’s already finished. However, we expect more upside on Cable, while price keeps trading above 1.2910 invalidation area.

GBPUSD, 1h

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