FX.co ★ GBP/USD wave analysis for February 28, 2011

In general, as expected, the USD/CHF pair made an attempt to reverse from the new all-time high 0.9235, reached earlier. At the same time, such attempt probably will not be able to form a reverse in favour of the dollar and the franc will resume declining in the direction of the estimated target level located slightly below the 92 figure. If so, Friday’s rebound was limited by the 4th wave range (in the 5th) of the whole downside section developed since February 11.