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Extension in the wave 3 of a downward momentum

11 May 2016, GBP/USD

Yesterday the pair was ready to go down within the development of the wave 3 of a downward momentum, but in the end correction continued its development.

It is possible that this is due to the upcoming extension in this wave. If this assumption is correct, the wave 3 will be extended. In the near future we expect a rapid and extended impulse downward movement.


Vasiliy Lukin
FreshForex Analyst
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