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Buy, buy, buy ...

07 April 2016, GBP/USD

Our wave model on this pair has slightly changed.

We assume that yesterday's trading had completely formed zigzag was in the form of the linking wave [x].

Immediately after an abrupt decline, the pair started to skyrocket and played this movement back by dropping.

We assume that the ascending impulse was formed within development of the wave [y] of the supposed double zigzag.

The upward potential looks very good. So I have reopened a Buy trade. The previous Buy trade of minde was closed by protective stop under a sharp decline of the price.

Vasiliy Lukin
FreshForex Analyst
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