Analysis of wave counting:
Despite the efforts made, the GBP / USD failed to reach the target level of 1.3325 and in the second half of yesterday's trading, fell by more than 110 pp from the minimum reached in the middle of the day (1.3340). In this case, the internal wave structure of the wave e, 4th wave, 5th, 5th, 3rd (or C) once again took a completely completed form. If this is so, and the price still does not work out a corrective level of 38.2%, then the already indicated growth of quotations can be further developed and the currency pair will pass to the stage of formation of the future 5th wave, 5th, 5th, 3rd (or C).
The objectives for building the downward wave:
1.3325 - 38.2% of Fibonacci
1.3235 - 50.0% of Fibonacci
Aims for building the upward wave:
1.3599 - 423.6% of Fibonacci
1.3700
General conclusions and trading recommendations:
The assumed wave 3 or C continues its construction. The increase in quotations may resume with targets near 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 limits of the correction wave 4, the decline may still continue with the targets near the 1.3325 and 1.3235 marks, which corresponds to 38.2% and 50.0% of Fibonacci, although now the wave is quite convincing.
