FX.co ★ GBP/USD wave analysis (week review)

After testing the 1.6470 level in the beginning of the week the GBP/USD pair was trading in the rang 1.6215 — 1.6435. At the same time the complex inner wave structure formed during last week is gaining characteristics of a horizontal triangle composing the estimated continuous 3rd wave (or c). If so, after this horizontal correction ends the pound might resume growth to the first target level near 1.6640.