GBP/USD Forecast. Technical Analysis

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The GBP/USD seems to have completed 5 bearish waves within wave 1 (red). A bullish retracement could be part of a wave 2 (red).

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The GBP/USD has support and resistance trend lines which could offer breaking spots for the Cable. A bullish breakout could a wave C (purple) develop whereas a bearish break could see the downtrend continue.

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Origin: Admiral Markets

 

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