Friday, October 11, 2013

GBPUSD May See Another Move Back above 1.6000 Next Week

Technically, it appears that Cable may have put in a near-term low around 1.5915 as the lower low in price was not confirmed by daily RSI, thus creating a bullish divergence. Furthermore, the entire decline during the month of October can be counted in 5-waves, according to Elliot Wave analysis



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