Sunday 1 December 2013

GBP/USD Wave analysis and forecast for 29.11 – 06.12: Uptrend continues.Estimated pivot point is at the level of 1.6240.Our opinion: Buy the pair from correction above the level of 1.6240 with the target of 1.65.Alternative scenario: Breakdown of the level of 1.6240 will enable the pair to continue decline to 1.61.Analysis: Presumably, local correction within the daily timeframe, which took shape of a plane, has completed. Locally, ascending impetus in the third wave of the higher level is being formed.


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