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    GBP/USD: Wave analysis and forecast for 10.06 – 17.06

    Estimated pivot point is at the level of 1.4660.

    Our opinion: Sell the pair from correction below the level of 1.4660 with the target of 1.40.

    Alternative scenario: Breakout and consolidation of the price above the level of 1.4660 will allow the pair to continue to rise up to 1.50.

    Analysis: Presumably, the formation of the third wave of the senior level iii of 5 continues. Locally, it seems that the upward correction (ii) of iii completed. If this assumption is correct, the pair has started to decline within the third wave (iii) to the level of 1.40. Critical level for this scenario is 1.4660.

    GBP/USD H1

    GBP/USD H4

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