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Bearish momentum

24 May 2016, GBP/USD

We assume that the wave 1 of the downward momentum has been finally shaped.Further correction was likely caused by development of the wave 2.

If this assumption is true, in the future we can expect a continued formation of the correctional wave 2, and then, drop of the pair will resume. We should look for opportunities to open additional Sell positions.

Vasiliy Lukin
FreshForex Analyst
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