GBPUSD�s wave analysis. Weekly review ^2010-03-15

There were two unsuccessful tries of the GBP/USD price to break out the correctional level of 61.8%, calculated from the last year’s part of the uptrend. In this situation, the low from March 10 can turn out a truncated fifth wave in the 5^th (in C) in the supposed C. If it is so, there is a chance to see an upward correction development to the 60 – 65^th figure area within the forming inclined triangle. But to speak about it surely is early and the assumed reversal conformation should be awaited. Also MACD signals about the reversal possible beginning.

Sincerely,

A. Dneprovskiy,

Analyst
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