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The pair is looking up

15 July 2015, GBP/USD

Taking into account yesterday's movement in an ascending direction, we can see that an ascending impulse at a small level has emerged.

This is the wave 1 of a more durable movement.

So, we are rather sure that development a correctional wave [ii] in the form of zigzug has been completed.

Bulls will chances, cause the next wave 3 is impulse and will be the most significant.

Before that, we will face a slight decline associated with development of a correctional wave 2. Thus, you don't need to hurry with purchases and it is better to wait for a pullback and enter at better prices.

The pair is looking up.

Vasiliy Lukin
FreshForex Analyst
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