Elliott Wave Analysis: GBPUSD Could Face A Temporary Correction

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GBPUSD rallied up to 1.25000 with five waves as shown on the updated hourly chart. It's an important bullish pattern that suggest even higher prices in days ahead, but after a three wave set-back. We think that a-b-c drop can be coming soon back to 1.2330 level where support can be seen later this week. Any corrections are now part of a new ongoing uptrend, so downside is limited.

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