The big 'C' wave down is in progress. C wave consists of 5 sub waves out of which this rally from 9180 -9365 is the 4th wave up. We have still been left with terminal 5th wave down which can lead us to 9130/9060 support zone before a sizable upswing can be expected. for this 9405 has to remain solid otherwise the picture will become more complex.
STRATEGY: wait for some recovery of GBP to initiate a SELL in the 9325-35 area with STOP above 9375 and TARGET as mentioned above.
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