Despite a slow advance and following trade in the price range, GBP/USD still managed last week to test the rate of the 57th figure. So, the wave picture allows to assume that the low of September 22 is the finishing of a declining part of the trend which had started on August 19. If so, all this downfalling part can be seen as the 1st wave (or A) of a longterm lowering correction.

Meanwhile, till the start of a new period of quoting rates’ drop the 2nd wave (or B) should take up a more convincing view.

Live Forex News
Currency Pairs Analysis Reviews