GBPUSD

In this frame of Cable’s weekly chart, the labels of Primary degree interpret the overall correcting process which started at the 2.1161 high (Nov 2007), as an A-B-C zigzag, that its final decline in Primary wave C (circle) remains in progress.

For now the bearish outlook is through 1.3304, in anticipation of the decline in Intermediate wave (3), which may have begun at 1.5930.

GBPUSD - Weekly

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