$EURGBP (8.19.2013)

Pair has completed a cycle from 0.8731 & 0.8770 highs so expect a recovery in series of 3 waves toward 0.8635 – 0.8667 where pair can find sellers and attempt to resume the decline. Give recovery from 0.8500 low is so far in 3 waves, we don’t like buying the pair into the proposed move higher.

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