FX.co ★ Wave analysis of GBP/USD for July 6, 2010

The breach of significant level around the 52nd figure allowed the GBP/USD price even during slow trading decline by one figure. So now, the pound demonstrates the accumulated potential for the beginning of a deep pullback in favor of the US dollar. Will such rollback transform into falling trend against the British currency again? It is hard to say now. At the same time, the dynamic formation of the wave 5 in 5 (in C) can let the price make the more complicated wave 5.