TECHNICAL ANALYSIS GBPUSD Potential Turns Price And Time UPDATE 3

A decline below 1.66238 and then a failure to break the high of 1.67212 today would suggest that the turn for the GBPUSD is in effect a day early having hit the .707 retrace of the ABCD move down as shown on the previous post. My next turn in time is forecast to be 10.12.2009 which should be a low. If the market breaks the high at 1.67212, then the next level forcast in the earlier post should be the top. Turns in time are very difficult, so I tend to use price levels as a confirmation. A time turn can be a day out.

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