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Pound is under strong pressure. I am expecting bottom around 1.25 or 1.22. If price touches these levels then i will look for longer term wave to the upside which is due on GBPUSD. Remember this pair was being traded at 1.60 at the end of the last year. We may see this level again in future. Currently price is under corrective structure which may form trend continuation pattern and that pattern may breakdown.

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I have posted GBPUSD analysis video on youtube please watch it. I am sorry i cant post link here due to House Rules. Search on youtube by this name please.

( GBPUSD Analysis 17 August 2016 )

Thanks

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GBPUSD is moving according as i was speculating 1 month ago if you have now watched my GBPUSD Analysis video then please it now so that you may understand how wave patterns work and how we can identify them by drawing structure. Here is the next update.