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    GBP/USD: wave analysis on 05.02.2015

    Presumably, the fifth wave (v) of V of 1 within the bearish trend has finished to develop. Locally, a first counter-trend wave of bullish correction is forming. The third wave has just finished within it. If this assumption is correct and the price does not break the critical level 1.4980, the pair will continue to rise to the level of 1.5380. An alternative scenario suggests continuation of decline and extension of the fifth wave to a level of 1.4800 after a level of 1.4980 is broken.

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