GBPUSD

Bearish Outlook :

After developing a series of first and second waves, the cable seems to have poised for further decline in Minuette-degree wave (iii). The Friday’s engulfing decline could bolster this bearish stance.

The wave (iii) has potential to decline through 1.4576, where it will achieve the 1.618 times the length of its same-degree wave (i).

GBPUSD - Daily

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