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43 minutes ago, dmedin said:

maybe we should short the pound

My target remains as before, the 12,300 area but GBPUSD can be capricious so I preferred EURGBP, which is going well and at the beginning of a wave C.  I am anticipating a bearish retrace (1-2) on the wave C in due course, which would offer a good entry into the long wave 3 of C.

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I like to look at FX Triads to keep my analysis honest (or at least to identify where something doesn't look right).  Not always easy to assess, especially when the two main sides to the Triad (in thi

EURGBP is taking its time to resolve, just as the retrace on the primary pairs are taking their time (not sure if we are there yet on either of those, looks like another level down is on the cards). 

EURGBP looks like it may be staging a breakout rally after an A-B phase.  Could be propelled to the 9000 level with GBPUSD reversing in a sell the fact fashion and EUR steadily heading south, but slow

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