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Analysis of EUR/USD and GBP/USD on February 12. UK GDP Gave Markets Reason to be Optimistic and Hopeful

On February 11, the EUR/USD pair gained about 5 basis points and made an unsuccessful attempt to break the 76.4% Fibonacci level. Thus, there are certain reasons to assume the beginning of building an internal correction wave 3 or C. If this is true, then the current values of the instrument's quotes will begin to increase, which can be maintained up to 10%. At the same time, wave 3 or C does not look complete, so in the future, I expect a further decline in quotes.
by Jeff Wecker
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Analysis of EUR/USD and GBP/USD on February 11. Speeches by Jerome Powell and Christine Lagarde may Stir up the Market

On February 10, the EUR/USD pair lost another 35 basis points and thus continues to build the expected downward wave 3 or C. The first wave inside 3 or C turns out to be very long. If waves 3 and 5 are proportional to it, then the entire wave 3 or C will also turn out to be very long. An unsuccessful attempt to break through the 76.4% Fibonacci level can lead to an internal correction of wave 3 or C.
by Jeff Wecker