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finitemonk
Feb 10, 2014 4:36 PM

GBP/USD 

British Pound/U.S. DollarFXCM

Description

Currently in a continuation pattern, looking to be heading back up to point D on the XABCD, the 0.618 on the Mod Schiff, roughly satisfying an Action/Reaction price move. If it does get there, worth a short. First it needs to break above a) the sliding parallel running up off point A & the ML (red).
(There is some suggestion cross-market Yellen/Fed tomorrow Tuesday weaken the dollar, Thursday might strengthen the dollar, or cause that effect, causing Sterling to drop off. )
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