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GBPUSD Market Outlook – 9 Aug 2018

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GBPUSD Market Outlook – 9 Aug 2018

This is short term analysis on M5 timeframe only. GBPUSD made a good bearish reversal with Butterfly pattern. Its direction could be confirmed with Turning Point Strength of Elliott Wave Trend. GBPUSD is down nearly 40 pips. We can immediately recognize the PRZ Type B level is acting as the very important support resistance for GBPUSD for now.

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