FX.co ★ Wave analysis of GBP/USD for July 07, 2010

Having processed almost all predicted levels in the current upside trend area GBP_USD price is trying to form the first waves of its new descending stage. However, taking into account a bearish mood on the market concerning the US dollar there should not be ruled out an upside trend rebound and formation of more complicated structure of the fifth wave in the fifth (in the assumed С).