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    GBP/USD: wave analysis on 25.01.2016

    A downward trend is strong.

    The downward trend continues forming within the third wave of the senior level iii of 3. At present, an extension within the third wave (iii) of the junior level seems to be forming and if the assumption is correct, the pair continues falling towards 1.3950, 1.3750. Critical for this scenario is the level of 1.4404, a breakout of which would allow the pair to grow to 1.4935.

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