GBPUSD – June 18th, 2020

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GBP/USD, 2Days chart. No change. The fifth of the ending diagonal is over. If correct, we’re at the beginning of a new bullish market. In this case, the market is going to rise towards 1.3227 in the near future.

GBP/USD, 120Minutes chart. The current decline might be wave ((ii)). The market is approaching the 0.618 retracement level, which could be a starting point for another upward impulse wave. If the price goes through this level, the bullish scenario will be under pressure.

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