In general as expected, during yesterday’s trading the GBP/USD currency pair continued to develop its upside correction. Thus we can suppose that the price is forming the inner wave structure of the 4th wave of the whole downside trend initiated August 19.
At the same time, because of the extreme prolongation in the 3rd wave the future 5th will probably become shortened by trying to test the 53 figure level.
Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011