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GBPUSD, Elliot Wave Analysis

10/31/2022 10:25 AM

Growth is possible.

On the daily chart, the downward fifth wave of the higher level V of (V) ended, within which the wave (5) of V formed. Now, the first upward wave (1) is developing, within which the third wave of the lower level 3 of (1) is forming. If the assumption is correct, the price will grow to the area of 1.2281–1.2590. In this scenario, critical stop loss level is 1.0920.

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