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The wave frame remains bearish

16 August 2016, GBP/USD

The price has approached the Low, we can expect a rebound from these levels. But meanwhile the wave picture is bearish and it is clearly not finished, so in the near future we still expect a drop within the wave [c] of an assumed zigzag. However, opening positions at the moment is not necessary, it is better to see how the price reacts to level.

Vasiliy Lukin
FreshForex Analyst
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