6:17 PM
GBP USD, “Great Britain Pound vs US Dollar”
Pound has formed a large extension inside wave 5 of (1) and the chart structure has become more bearish. Right now, the price is expected to continue falling inside wave [v] of 5 of (1).
The pair has formed a double extension inside wave [iii] of 5 of (1). Wave (v) of [iii] of 5 may also beextended and the pair will continue moving downwards. This scenario will be confirmed after the market stays below 1.4845.
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