FX.co ★ The GBP/USD wave analysis for December 28, 2010

The thin market factor significantly influences the general GBP/USD wave situation in the range of a section of the downtrend that has been developing since the middle of December. It is worth pointing out that due to price growing from December 22 lows, it is possible that the C wave has completed near the passed 1.5360 level. If so, at the moment we are observing the development of a correction structure in abc waves, or an attempt to reverse in favor of the pound for midterm.