GBPUSD ended the retracement phase of the big uptrend with target on values near 1.44 / 1.45. As you can see the 4th wave reached the 32.8 fractal value of the fibonacci retracement. According to the elliot theory in this tipe of 5 movements waves where the third wave is visible in the same timeline the fifth wave is near the same as the first.

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So, according to oru analisys and the elliot theory we recomend only long possitions with TP in this values:
TP1: 1.375
TP2: 1.396
TP3: 1.44

Stay tuned and remember, only long positions are recomended if you look for lots of pips!
GBPUSDgbpusdlongHarmonic PatternsTrend AnalysisWave Analysis

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