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    GBP/USD: wave analysis on 20.01.2016

    A downward trend is strong

    A downward trend continues forming within the third wave of the senior level iii of 3. At present, the third wave (iii) of the junior level seems to be developing. If the assumption is correct, the pair continues declining to 1.4000-1.3700. A critical for this scenario is the level of 1.4337 the breakout of which would allow the pair to strengthen to 1.4935.

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