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Elliot wave explanations will be provided as one the trading concepts in the main TA section. 1 EUR buys.87403 Pound sterling (GBP) - The reference exchange rates are published both by electronic market information providers and on the ECB's website shortly after the concertation procedure. Remember in Chapter 4, the Bollinger Bandwidth can give an early indication of a pending move as volatility increases. In my experience, conditions are forex competitive among others.