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    GBP/USD: wave analysis on 23.02.2016

    A downward trend is strong.

    Assumingly, a Bearish impulse within the third wave of the senior level continues developing. At present, the fifth wave of the junior level seems to be forming, within which the third wave (iii) is developing. If the assumption is correct, the pair continues falling towards 1.3950, 1.3850. Critical for this scenario is the level of 1.4400.


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