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Rising wedge assumed

16 December 2015, GBP/USD

Pound has run to an extreme once again.

The currency sharply surrendered after a confident procession and dropped in the result.

Perhaps, such strong fluctuations are caused by development of the wedge, and yesterday's decline was due to formation of the wave iv.

So, if this assumption is correct, in the near future we can expect resumption of growth of the pair will will give a birth to the wave v and the entire model.

Rising wedge assumed

Vasiliy Lukin
FreshForex Analyst
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