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FX.co ★ Wave analysis of the GBP/USD currency pair for October 18, 2010

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Forex Analysis:::2010-10-18T07:41:12

Wave analysis of the GBP/USD currency pair for October 18, 2010

Wave analysis of the GBP/USD currency pair for October 18, 2010

Having worked out the level of 1.6060 last Thursday and marking the 1st wave in the 5th the GBP/USD pair is in the correction phase now, probably forming rather complicated structure of the 2d in the 5 th. If it so then in the nearest time the upside trend continuation can be expected within the 3d and the 5th waves. And the nearest expected target is still around 1,6155.

Analyst InstaForex
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