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    GBP/TRY: Fibonacci analysis on 11.02.2016

    A significant fall may be starting.

    On the 4-hour chart, the pair is testing the level of 4.2550 (23.6% correction), a breakout of which could lead to a growth to the levels of 4.2875 (38.2% correction) and 4.3135 (50% correction). On the other hand, a breakdown of the 50% fan line would allow the pair to fall to its January lows near the level of 4.2025, a breakdown of which would permit an even more significant decline. 

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