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Back Wave analysis
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Back Wave analysis
GBP/USD Analysis – May 12th: US Inflation Rises Above Expectations
For GBP/USD, the wave structure continues
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For GBP/USD, the wave structure continues to indicate the development of an upward trend segment (lower chart), while in the short term the market continues building a structure that was initially interpreted as corrective, but is now viewed as impulsive. Consequently, both major currency pairs are currently within a bullish wave formation.The rise of the euro and the pound was supported by the ceasefire in the Middle East, which has lasted for about a month (with rare exceptions) and still
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Chin Zhao,
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