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GBPUSD May Reverse Into A Deeper Pull-Back, Towards 1.5480

On cable we can count five waves up in wave A) from 1.5000 psychological level which means that temporary high for this pair could be near if we consider that after every five waves correction follows. With that said, a coming corrective retracement would be red wave B) that is part of an incomplete second zig-zag in wave II. If we get lower levels for wave B) then watch for a bounce/support zone at 1.5480/1.5550.