GBPUSD: Intraday View

GBPUSD in trading lower for the last few sessions, after price recently completed blue wave C-circled, part of a higher degree pullback at 1.451 level. That said new weakness towards 1.418 area, can be wave 1, the first wave of a new bearish cycle of a higher degree, that can find temporary low around 1.413-1.415 region, where fibo. ratio of 261.8 can indicate a reversal up into wave 2 pullback.

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