GBPUSD

As shown on this Cable’s weekly frame, the labels of Primary degree interpret the overall correcting process from the 2.1161 high (Nov 2007), as a double zigzag (W-X-Y formation).

Based on this alternate count, Intermediate wave (B) of Primary wave Y(circle) may have completed at 1.5930, and Intermediate wave (C) begun its way down, prior to the end of overall correction.

Cable in the wave (C) has potential to decline through 1.3304, where equals with the wave (A).

GBPUSD - Weekly

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