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Back Technical analysis
GBP/USD. October 4th. Is the Bank of England Trying to Catch Up with the Fed?
On Thursday, the GBP/USD pair consolidated
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On Thursday, the GBP/USD pair consolidated below the 161.8% corrective level at 1.3259 and then below 1.3151. Therefore, the downward movement may continue today toward the next Fibonacci level of 127.2% at 1.3054. Consolidation above the 1.3151 level would allow for a potential rebound, aiming for the 1.3259 level. The wave structure is clear. The last completed upward wave (on September 26) did not break the peak of the previous wave, while the downward wave currently forming easily broke
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