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FX.co ★ Wave analysis of GBP/USD for May 27, 2010

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Forex Analysis:::2010-05-27T12:00:00

Wave analysis of GBP/USD for May 27, 2010

Wave analysis of GBP/USD for May 27, 2010

The current wave outlook of the GBP_USD pair starts to attain the features characteristic for a horizontal triangle structure. By the end of the last 24-hours the price formed a series of waves abc of such correctional wedge. At the same time it is noticeable, that the price still cannot hit the upper forming line of the falling trend originated from April, 26. Such uncertainty of the pound can cause a soon restart of the price movement versus the British currency. If it crosses the upper border of the declining trend the first target will be at the level area of 1,4560.

Analyst InstaForex
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