The EUR/USD decline has completely erased its rally from March. Assuming wave ((c)) meets the even the minimum proportionality to ((a)), we should see the pair continue to decline and move significantly below parity.
Cable is trading at its lowest levels since June and the decline looks set to continue with a third-of-third wave movement. The completion of wave ((3)) should see cable trading beneath the 1.35 figure last traded in 2009.
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