FX.co ★ Wave Analysis of the GBP/USD for November 17, 2010

Yesterday the price of the GBP/USD pair broke through the bottom line of the up-going band and fell by more than 2 figures. In such a way it should be noted that the resumed lowering takes place within the 3d wave (or C). Amid this, on account of its internal dimensionality we may suppose that such downtrend target can be at 1.5820 or even 1,5640.