It is likely that we have completed the regular there in the middle and now we are headed up to complete the bigger 1-2-3 move.
Look out for a rejection at the above because once it reaches there it can fall back down and start making a more complex correction, which means that the the impulse to break the 1.1474 zone has still not started and we are still in a more prolonged correction!
We will have to re-evaluate price action as the price moves along. Stay tuned!
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