GDP day today. Big drop expected. Lets see how the market reacts.
For the bullish scenario, the price has to stay above 1.2765 . In that case we are counting this move as a wave 2 of a bullish move to at least 1.3500.
Wave 2 cannot retrace below the start of wave 1, which in this case I labeled as an ABC.
If price drops below 1.2765 we are bearish till 1.2500 and we need to relabel the charts.
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