Analysis of wave counting:
The pair GBP / USD started trading from a downward movement, however, failing to update the low reached the day before, it returned to the level of 1.3425 before the end of the day. In this case, the internal wave structure of the wave e, 4th wave, 5th, 5th, 3rd (or C) has retained a completely completed form. If this is the case, then from the minimum reached on the last day of last week, or still after working off the mark of 1.3325, the currency pair will resume the growth of quotations, passing 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. An unsuccessful attempt to breach the 1.3325 mark may lead to the completion of wave 4.
