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Elliott Wave Charting
An impulsive decline from the 1.6070 resistance area has found support at 1.5530. An upward bounce form that zone is expected to be a correction of a red wave iv), before the market can trade lower again.
Once wave iv) is complete and 1.5533 is support taken out, a Short move towards the 1.5370 region will be expected.
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Disclosure: Short Gbp