Analysis of wave counting:
In general, as expected, in the course of yesterday's trading, the GBP/USD pair continued the development of the downward movement that began on the evening and, having lost about 130 percentage points, already reached 1.4170 in the middle of the day. The resulting wave situation makes it possible to assume that such a dynamic decrease in the price of a currency pair can confirm the transition to the stage of formation of the first generating waves in the future wave c, in b, in B, in C, in C, in (A). At the same time, the currency pair has so far retained the potential to resume the growth of quotations to the level of the 45th figure and further complicate the internal wave structure of wave c, in b, in b, in B, in C, in C, in (A).
Targets for a downward wave option:
1.4100 - 1.4200
Targets for an upward wave option:
1.4372 - 76.4% by Fibonacci
1.4498 - 100.0% by Fibonacci
General conclusions and trading recommendations:
Wave counting continues to get complicated and tangled. In the framework of the construction of the wave c, in b, in b, in B, in C, in C, in (A), the increase in quotations may still resume with targets located near the estimated marks of 1.4372 and 1.4498, which is equal to 76, 4% and 100.0% by Fibonacci. However, with greater probability now began the construction of the wave c, in b, in B, in C, in C, in (A) with targets located about 41 and 42 figures.
