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In this paper an iterative channel estimation technique for a mobile fourth generation coherent orthogonal frequency division multiplexing (OFDM) system is proposed. Coherent detection dictates that a per-subband estimate of the frequency response of the channel is generated for each OFDM symbol. This is often achieved by inserting pilot symbols amongst the data symbols in the OFDM modulation grid and interpolating accordingly. This paper proposes a lower complexity channel estimation method that exploits coding gain to achieve a channel estimate that yields an overall system performance that is shown to be comparable to the scattered pilot system, but with only one initial training sequence. A tracking algorithm is proposed which improves performance at high mobile velocities.