FX.co ★ Wave analysis of GBP/USD for May 12, 2010

As we have already mentioned, the 4th wave in the 5th looked very dynamic yesterday and was demonstrating slight irrelevance to the correctional wave by its inner wave structure, in this connection this 4th wave attained a complex form. Thus, if the GBP_USD pair price manages to hold within the limits of a new inclined channel, the renovation of the quotes’ falling with advantage of the US dollar can be expected.