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GBP/USD: More Weakness Could Be Seen Ahead

Published 03/03/2015, 03:34 AM
Updated 07/09/2023, 06:31 AM

GBP/USD has turned sharply to the downside last week exactly from 1.5550 area that we highlighted it as lower side of a resistance zone. Until now market made three waves down only, but we may see more weakness if we consider the possibility of a bearish impulse that can be in the cards, especially if 1.5311 support is taken out. Any rise back above 1.5455 can cause another leg above 1.5550.
GBP/USD 4h Elliott Wave Analysis

GBP/USD Hourly Chart

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