GBPINR Elliott Wave and Neo Wave Analysis

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 GBPINR Fut hourly continuous chart

From above chart it is very clear that, prices have formed a distribution pattern which is an indication that the pair will sink going head. The pair from 100 is now trading down to 99.5/6, such dynamic fall is only possible with formation of a pattern on upside.

I have found a distribution pattern which is a rising wedge, prices can dip near to its previous low which is 99, any break below this level will infuse further selling pressure dragging it till 97-96 levels over medium term.

From Wave perspective, ending diagonal in wave v is evident also in wave iv we can see bow and tie diametric which has seven legs in it (Neo Wave). After wave v prices will move in corrective form which I will monitor and keep updated.

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