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Elliott Wave Analysis: Impulse Unfolding On GBPUSD

On the GBPUSD we see strong rising price action since August of 23. We see a potential impulse in the making, that can extend its gains towards the 1.3722 region in coming days or weeks. However, current slow and choppy price activity can be corrective wave 4 in the making, that can search for its support near the Fibonacci ratio of 38.2 and near the former swing high of wave three and there make a new bounce higher.

GBPUSD, 4H

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