Analysis of wave counting:
The direction of the movement of the GBP/USD cannot be determined due to the low activity during yesterday's trading session, which stayed in a narrow price range near the level of the 34th figure until the end of the day.
Objectives for building a downward wave:
1.3291 - 23.6% Fibonacci retracement
1,3200
Goals for building an upward wave:
1.3480 - 11.4% Fibonacci retracement
1,3600
General conclusions and trading recommendations:
The construction of the 4th downward wave continues. in the upward trend section. Now it is possible for an increase in the quotations of the instrument with targets near the estimated mark of 1.3480, which corresponds to 11.4% of Fibonacci, within the internal wave b, c, and 4th. After its completion, it is possible to resume the decline with targets below the level of 1.3291, which is equivalent to 23.6% Fibonacci.
