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EURGBP has been on a strong downtrend after breaking long term support on the Daily Charts.
The 1 hour chart has already completed a 3 wave structure to the upside which was confirmed once we broke through 7510.
However the wave of a larger degree may have completed, which may cause this correction to turn into a double correction.
A break of the channel will most likely confirm the downtrend has presumed. A push higher from current levels, or while within the channel can see another 3 waves higher before a new cycle to the downside starts.
The 1 hour chart has already completed a 3 wave structure to the upside which was confirmed once we broke through 7510.
However the wave of a larger degree may have completed, which may cause this correction to turn into a double correction.
A break of the channel will most likely confirm the downtrend has presumed. A push higher from current levels, or while within the channel can see another 3 waves higher before a new cycle to the downside starts.
