FX.co ★ The GBP/USD wave analysis for January 11, 2011.

The GBP/USD situation is developing according to the corrective scenario, that implies forming a wave structure of a horizontal triangle. At the same time, its wave с is probably developing further. If so, it is likely that levels near the 57 figure might cause another decline of the pound price in the range of the future d wave of such triangle.