Wave analysis of the GBP/USD currency pair for March 16, 2010

Having formed the first five waves of the assumed correction, yesterday, the price of the GBP/USD currency pair made

a rather intensive recoil in favour of the US dollar. If the situation is developing according to the expected correctional scenario further on, then after the recoil is completed, a renewal of the pound increase with a formation of a valid three –wave structure abc will be possible. Yet, it is early to say to what extent it can be prolonged.


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