FX.co ★ GBP/USD wave analysis. Week review.

During the whole previous week the GBP/USD currency pair was declining from the 1.6750 level. At the same time, the downfall of the price by 400 pips allows a possibility that the uptrend section formed March 28 - May 2 is completed. In the meantime, it is worth mentioning that the inner wave structure of the 3rd wave (or C) looks quite insecure. Therefore, this uncertainty of the wave structure may mean further development in the form of a continuous triangular structure with its base formed last December. Nevertheless, we can yet expect further downside correction in the direction of the 62 figure level.