EUR/GBP
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EG is approaching the .618 level (which would break high if it did). But you can see the pitchfork and all the intersecting trend lines of structure. It is potentially a very large sell down. Looking at the one hour, the wave it is on is coming off the 1.618 extension in an impulse, so i would expect some consolidation and another little push. So, basically, i would like to see a reversal pattern on 1 hr before i considered any short. gbp/usd was at trend line approaching .618 level also. gbp/cad is at the .618. Obviously pound is in a strong down trend, but looks like we might be getting at least a retracement soon. but be careful...
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i talked about this at the beginning of my you tube live stream dated today aug 8th. link below
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