GBPUSD has turned up recently, more than we anticipated so we suspect that big recovery wave is still unfolding. We see pair in a temporary bounce, it's corrective wave IV that can even be a triangle in progress. That's a five wave pattern in contracting shape that occurs in the middle of an ongoing trend. As such, our view on this pair remains bearish for wave V down that can touch 1.3600 level this year.
GBPUSD, Daily
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