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GBP/JPY: Fibonacci analysis on 02.12.2015

The pair is likely to continue moving down.

On the 4-hour chart, the pair is trading in the area of 185.32 (23.6% correction). A descending 50.0% Fibonacci fan line is seen as an additional support for the price. In this situation, a decline is likely to continue towards 184.29 and 184.00 (23.6% correction for the medium-term trend). 


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