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Development of the wave [c] is over

21 January 2016, GBP/USD

British currency has finally managed to halt its decline.

The wave structure also implies a bull-case scenario. The wave [c] took the form of downward momentum.

In this situation, we should wait when the price will make a clear upward movement having formed a lead-in wave of upward impulse and after that on a pullback we should open a buy position.

Development of the wave [c] is over

Vasiliy Lukin
Analyst of «FreshForex» company
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