Analysis of wave counting:
Yesterday's GBP / USD trades began with the continuation of the upward movement, adding about 80 percentage points in price and reached the level of 1.4165 in the afternoon. The resulting wave situation allows us to assume that the currency pair remained in the stage of formation of the wave b, c, b, B, C, C, (A), which also does not yet look complete. At the same time, the currency pair retains the potential allowing it to resume the decline at any time and thereby indicate the beginning of the wave c, c, b, B, C, C, (A).
The objectives for building a downward wave:
1.3946 - 38.2% of Fibonacci
1.3823 - 50.0% of Fibonacci
The objectives for building an upward wave:
1.4200
General conclusions and trading recommendations:
The wave counting has suffered some changes. Now, we expect a resumption of a decline in quotations with targets near the calculated levels of 1.3946 and 1.3823, which corresponds to 38.2% and 50.0% of Fibonacci, within the limits of wave c, b, B, C, C, (A). The supposed wave b is close to its end, but it can get a bit complicated with the targets, which are about 42 figures.
