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A Bearish Reversal?

Sameer Kapoor 19 August 2013

GBP/USD is moving higher, but a rally from the July low is still in three legs with wave C) now near completion as price is approaching upper trend line of a corrective channel as well as equality level compared to wave A).

We can also count five waves up from 1.5100 wave B) low, so sooner or later reversal will follow, ideally from 1.5700.