GBPUSD TECHICAL ANALYSIS potential turn 14th/15th Jan UPDATE

As predicted using my analysis methods the GBPUSD reacted at my second predicted level on the day forecast, it exceeded the point by only 9 pips. The decline is not over yet, if this is just a correction then we will see the gbp decline to below 1.58222. If it a first wave in a new up trend then 1.60570 would be my target area to exit this trade, this will be based on the wave structure formed.

What I am seeing at the moment is impulse waves down, indicating that possibly we are in a move to break the previous low. As the wave progresses it will be easier to evaluate its potential reversal zone using the techniques taught in my course precision trading. If you missed the original trade entry, wait for the retrace up, which is certainly comming.

More analysis on this as the move progresses

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