FX.co ★ Wave analysis of the GBP/USD currency pair for November26, 2009

After the 5-waves structure of the wave 1 (or a) was formed, a new branch of the pound weakness, the GBP/USD pair marked the package of abc correction waves on the graph. If the pound is not involved into horizontal corridor there will be a chance to see the downside trend continuation. In this case the first likely target below can be the level of 1.6330. In addition, the current indicators location is not contradicted the variant of the downtrend extension.

Best regards,

analyst: Alexander Dneprovskiy.