Ever since the Brexit referendum outcome the GBP/USD has been trading at very low levels between 1.2880 and 1.3530. Actually it has narrowed down it's fluctuations recently around 1.30 level forming this way a triangle. And in my opinion the most probable way out of the triangle is furhter depreciation.
On the daily graph we the GBP/USD trading in the triangle with last upward movement resembling Elliot's 5 wave movement. Now it has bounced back down from the triangle barrier line and last dail…
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