Thursday, October 6, 2016

Eurgbp: An Imminent correction to 0.8525?

Do you think we have a 5-wave impulsive rally here? The 5th leg of the rally could complete its 5th sub-wave at 0.8853 or form a double top with 0.8843.

According to the wave theory, a 3-wave decline usually follows a rally like this.

If price moves as expected and breaks below 0.8765, price may correct to 0.8525 and we don't want to miss this.

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