FX.co ★ GBP/USD wave analysis for June 3, 2011

The expected testing of the 63 figure level resulted in a rebound by over 100 points. Therefore, we might suppose that the pound is trying to indicate a new upside movement within the future c wave (in the 3rd). At the same time, if the market can develop this upside tendency the growth will be continued in the direction of the first possible target at 1.6600.