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A correctional growth is over

19 August 2016, GBP/USD

The price has been frowing for 4 days, met its goals in a zigzag pattern in the wave 2. Thus, in the near future, we expect resumption of the downward movement of the pair in the impulse form, during which the wave 3 will be formed. In this case we may try to open a sell trade with stop loss set just above the local price peak.

In the future, if the price goes down, on breakdown of Low you can add one more trade.

Vasiliy Lukin
FreshForex Analyst
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