This paper introduces a neuronal field model for both excitatory and inhibitory connections. A single integro-differential equation with delay is derived and studied at a critical point by stability analysis, which yields conditions for static periodic patterns and wave instabilities. It turns out that waves only occur below a certain threshold of the activity propagation velocity. An additional brief study exhibits increasing phase velocities of waves with decreasing slope subject to increasing activity propagation velocities, which are in accordance with experimental results. Numerical studies near and far from instability onset supplement the work.