FX.co ★ GBP/USD wave analysis for March 4, 2011

Yesterday the GBP/USD currency pair could not continue the upside movement and declined almost by one figure by the end of the day. It is worth mentioning that if the situation develops further in the range of the uptrend, then at the moment the first waves in the 3rd wave, in the 3rd, in the C (or 3rd) are being formed. If so, this 3rd might find a target level near the 67 figure level.