We are treating the drop from 2.0396 as a leading diagonal (wave 1 of C within the A-B-C decline from 2.1160).
Under this interpretation, the GBPUSD rally from 1.9599 is wave 2 within the 5 wave drop (wave C) from 2.0396. Keep risk at 1.9964.
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advertisementBritish Pound Technical OutlookWednesday, 30 April 2008 13:43:29 GMT |