Analysis of wave counting:
Yesterday's European session, the GBP / USD pair began with a downward movement, having lost more than 110 pp and stopped before the mark of 1.3110 at the end of the day. At the same time, it can be assumed that as a result of this price reduction, the currency pair completed the wave b and made an attempt to go to the formation stage of wave c, in the future wave c, in the 4th. If this is the case, wave b, in the 4th, it will not take a much more complicated form, then the currency pair can open quite good prospects for the continuation of the indicated decline in quotations to the level of the 30th figure, near which the first calculated wave targets 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 wave c, c, 4. The correction wave b, 4, presumably, completed its construction.
