Analysis of wave counting:
On Tuesday, being unable failed to gain a foothold under the level of the 40th figure, the GBP / USD pair resumed the growth of quotations, having added about 300 percentage points in price and returned to the level of 1.4275. It can be assumed that the currency pair made attempts to complete the wave 5, a, B, C, C, (A) and transition to the stage of formation of the first generating waves in the future wave b, B, C, C, (A). At the same time, the currency pair retained the potential for continuing the development of the upward movement, at least to the level of 1.4600 and a significant complication of the internal wave structure of the entire wave 5, a, B, C, C, (A).
The objectives for working off a variant with a descending wave:
1.3400 - 1.3600
The objectives for working out the variant with an upward wave:
1.4400 - 1.4600
General conclusions and trading recommendations:
The pound sterling continues to build wave B, C, C, (A). This week, the increase in quotes may continue within the internal wave 5, a, and with the goals, located about 44 and 46 figures. An upward corridor preserves the prospects of constructing an ascending set of waves. After the completion of the construction of this wave, the quotations are expected to decline within the framework of wave b, B, C, C, (A) with the first goals between 34 and 36 figures.
