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Sales under the wave iv

25 April 2016, GBP/USD

As the US currency is pressing up its rivals, the pound is more or less consolidating.

This is probably because of unfinished formation of the wave iii of rising momentum.

However, in the course of this growth the price updated the local High.

Thus, in the near future we should expect drop of the pair within the framework of development of a correctional wave iv.

Based on these considerations, I've opened a Sell trade with a view to the trend line.

Vasiliy Lukin
FreshForex Analyst
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