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Wait | 11 December 2020

11 December 2020, GBP/USD

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Wave Analysis

Just as previously anticipated, the British pound rallied to the lower side but could not go beyond the lower trend line. As long as the price is not able to break below the lower trend line, we are waiting for a bounce from within the zone 1.34470-1.34300, if the price bounces off from this zone, then this will be a good place to consider a possible long term sell position expecting price to break below the lower trend line towards 1.31160. A break beyond 1.34470 will push the price much higher towards 1.35110.

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Bob Stan
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