See if it goes back up in a few days. If you have high P numbers, then your rock and sand (aragonite) can hold/bind a lot more in reserve and it will release some as the water level falls. It can take pounds and pounds of GFO to get it to where it goes down and stays down - a friend of mine needed a whole 5 gallon bucket to get rid of the terrestrial phosphate on his dry rock purchase... and it took about 4 months of every-other-day changing.
When using the GFO, use a little bit, but use it quickly. Bertoni (on RC) had some study once that the stuff gets coated in organics easily and stops absorbing when it does. I would use all that you can use in 3-7 days and replace it. Smaller amounts and more frequent changes seem to work best.
Here is a quote from Dr. Holmes-Farley's phosphate article:
http://reefkeeping.com/issues/2006-09/rhf/index.php