During yesterday trading the GBP/USD still continued to form a more complicated inner wave structure of the b wave in the estimated 2nd (or b). If so, after the b wave is completed the price might continue to decline to the correction level 61.8% at the 1.6240 level. At the same time, given the market sentiment directed against the dollar, we cannot eliminate the possibility of the price passing May 31 high (1.6440) within the c wave, in the b.
