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Extension in the 3rd downward wave is expected

14 July 2016, GBP/USD

Probably, we are dealing with the extension in the third wave, and therefore there is a good potential for a deeper decline. This is why I continue to hold a Sell trade, and on update of the Low we wil get a good signal to opening more trades in the same direction. Thus, the bearish option is still relevant, so in the near future we should look closely to opening of short positions.

Vasiliy Lukin
FreshForex Analyst
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