$EURGBP (10.9.2013)

Expect a test of 0.8488 – 0.8509 to complete a 5 wave rally from 0.8329 low from where pair should pullback at least in 3 waves.  Only an impulsive decline following completion of this cycle would leave the door open for new lows below 0.8329. Hourly cycles are positive so we like buying the dips as long as they remain corrective (3, 7 and 11 swings)


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