FX.co ★ Wave Analysis of GBP/USD for September 21, 2010

Yesterday decrease of GBP/USD to the level of 1.5535 has complicated the inner wave structure of the assumed wave c (or the 3rd) which has been developing after September 10. Thus, it can be expected that the high of the last Friday is the peak of the 3rd wave in this assumed c (or the 3rd). Correspondingly, if it is so, at the moment the price is in the correctional stance thus forming the structure of the 4th wave in с (or the 3rd).