GBPUSD fell sharply to the downside, a few weeks back which we see it as the final wave V of III) that touched the 1.1493 level. If we are correct and price really did post wave III) lows, then current upward action may be the start of a temporary bullish rally in upcoming wave IV) with sub-wave A already completed. That said the pair is now undergoing a temporary reversal in the following sub-wave B with a possible turning point near the 61.8 Fibonacci ratio.
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