Analysis of wave counting:
Having failed to determine the direction of the movement, the GBP / USD pair held in the range, trading near the level of the 32nd figure. Thus, the continuing uncertainty still allows us to assume that the currency pair remained in the formation stage of a rather complex wave b, in the future wave c, in the 4th. If this is so, wave b, in the 4th, will not further complicate its wave structure, then the currency pair may resume the decline of quotations in the direction of the level of the 30th figure, near which the first calculated targets of wave c are located, in the 4th.
The objectives for building the downward wave:
1.3065 - 38.2% of Fibonacci
1.2882 - 50.0% of Fibonacci
The objectives for building an upward wave:
1.3291 - 23.6% of Fibonacci
1.3400
General conclusions and trading recommendations:
The downward wave 4 continues to build in the upward trend section. It is now possible to continue the decline of quotations with targets near the calculated marks of 1.3065 and 1.2882, which corresponds to 38.2% and 50.0% of Fibonacci, within the limits of wave c, 4. Correction wave b, 4, presumably, has completed its construction.
