We maintain that either a flat or triangle is unfolding.
“Since 1.9337 (the 1/22 low), the GBPUSD is tracing out either a flat or a triangle as large wave B within an A-B-C correction from 2.1160.” In the case of a flat, Cable could drop below 1.9337 before rallying in wave C. If a triangle is unfolding, then 1.9364 will hold. Keep these levels in mind if you are trading the GBPUSD.
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