FX.co ★ GBP/USD wave analysis for September 22, 2011

During yesterday’s trading the GBP/USD currency pair confirmed our concerns over possible resumption of dynamic downside movement. At the same time, this decline became avalanche after the release of the FOMC announcement, and the 5th wave in the estimated 3rd is probably prolonged. If so, targets of the whole downtrend initiated August 19 can be moved to the 53 figure level.