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GBP/USD: wave analysis on 05.01.2016

Pair’s fall continues.

A Bearish correction as wave B of the senior level seems to be forming. Assumingly, the fifth and final wave (v) shaped as a zigzag within a diagonal in wave c of B is currently forming. If the assumption is correct, the fall will continue to the level of 1.4620. Critical for this scenario is the level of 1.4840 a breakout of which would let the pair begin growing towards 1.5240 and above.

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