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    GBP/USD: wave analysis on 28.01.2016

    A downward trend is strong.

    A downward trend within the third wave of the senior level iii of 3 continues forming. At present, an extension in the third wave (iii) of the junior level seems to be forming. If the assumption is correct, the pair continues falling to 1.3950-1.3750. A critical for this scenario is the level of 1.4368 the breakout of which would allow the pair to grow to 1.4600-1.4900.

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