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Back Wave analysis
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Back Wave analysis
GBP/USD Analysis – May 11th: The Pound Sees No Reason for Panic
The wave pattern for GBP/USD continues
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The wave pattern for GBP/USD continues to indicate the formation of a bullish trend segment (lower chart), while in the short term the structure that was initially interpreted as corrective is now being viewed as impulsive. Consequently, both major currency pairs are currently within bullish wave formations. The euro and the pound were supported by the ceasefire in the Middle East, which has lasted for a month (with rare exceptions) and still has every chance of becoming the foundation for
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Chin Zhao,
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