On cable we
can count completed five waves up in wave C that shows signs of a top around
1.5606 because of ending diagonal in wave 5, divergence on the RSI and now also
accelerating price action below the trading channel which suggests that pair is
in early stage of a minor wave (iii). Further weakness towards 1.5450 would be
a strong and very important sign for further GBPUSD top.
Please
check our video from Apr 29 2013 for more detailed analysis on GBPUSD as well
as AUDUSD.
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