Analysis of wave counting:
In general, it is expected that during the yesterday's trading, the pair GBP / USD still continued its decline and reached 1.3430 in the afternoon. In this case, the internal wave structure of the 4th wave, 5th, 5th, 3rd (or C) took a completely completed form. If this is so, and the 4th wave, 5th, 5th will not take an even more complex form, then from the minimum of the past day or from the 1.3325 mark, the currency pair will resume the growth of quotations and thereby mark the beginning the future 5th wave, 5th, 5th, 3rd (or C).
Targets for the downward wave option:
1.3437 - 23.6% of Fibonacci
1.3325 - 38.2% of Fibonacci
Targets for an upward wave option:
1.3599 - 423.6% of Fibonacci
1.3700
General conclusions and trading recommendations:
Wave counting has suffered some changes in connection with the breakdown of the mark of 1.3270. Increasing quotations may be resumed with the targets located around the estimated level of 1.3599, which corresponds to 423.6% of Fibonacci and above about 37 figures, within 5, 5, 5, 3 (or C). Within the framework of the correction wave 4, the decline may continue with the targets near the marks of 1.3437 and 1.3325, which corresponds to 23.6% and 38.2% of Fibonacci.
