FX.co ★ GBP/USD wave analysis for May 14, 2010

Yesterday, the events concerning the GBP_USD pair were developing dynamically enough, as a result, the pound decreased by 300 pips. Such a plunge resulted in attaining by the 4th wave (in the 5th) a complex and difficult to explain view, in the framework of the scenario assuming the gradual continuation of the British currency descend. On the other side, the wave situation on the chart in case of its development can cause a prolonged downfalling of the pound in the direction of fresh historic minimums. But as this situation of the further events development still needs to be confirmed we are still keeping the marking plotted on the image.