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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • GBPUSD Trying To Form A Bearish Reversal At 1.5600 0 comments
    May 2, 2013 11:20 AM

    On cable we can count completed five waves up in wave C that shows signs of a top around 1.5606 because of ending diagonal in wave 5, divergence on the RSI and now also accelerating price action below the trading channel which suggests that pair is in early stage of a minor wave (iii). Further weakness towards 1.5450 would be a strong and very important sign for further GBPUSD top.

    Please check our video from Apr 29 2013 for more detailed analysis on GBPUSD as well as AUDUSD.

    (click to enlarge)

    For more analysis visit us at http://www.ew-forecast.com/

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    VIDEO April 29 2013 click here

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