Analysis of wave counting:
In general, it is expected that during the second half of the yesterday's trading, the pair GBP / USD pair of the level of the 43rd figure led to turn the price in favor of the dollar and its fall by 260 percentage points from the already achieved maximum. At the same time, it can be assumed that the currency pair completed the formation of the third wave and already marked the beginning of the 4th wave, 5th, a, B, C, C, (A). If this is the case, the currency pair may continue the decline of quotes that began yesterday in the direction of the level of 1.3800, or even 1.3600.
The objectives for building the downward wave:
1.3600 - 1.3500
The objectives for the construction of an upward wave:
1.4294 - 685.4% of Fibonacci
1.4400
General conclusions and trading recommendations:
The construction of the upward trend section continues, but the entire wave counting of the instrument is not entirely unambiguous now. The wave 3, 5, a, B, C, C, (A), supposedly completed its construction near the mark of 1.4294, which equates to 685.4% of Fibonacci. Within the framework of the correctional wave 4, it is possible to withdraw quotes from the peaks reached with targets that are about 36 figures.
