Wave counting analysis:
On January 4, the GBP / USD pair added about 90 bp more and continued, thus, the construction of the estimated wave 2, in the future 3 or from the downward trend. If this is true, then the fall of the tool with targets located around 24 figures and below is resumed almost from current positions. More so, a successful attempt to break through the level of 0.0% by Fibonacci will indicate the pair's readiness to complete the downtrend of the trend, wave 3 or s will get shortened status, and thus, the quotations increase will continue within the uptrend. The decision of the Parliament on Brexit should be made on January 15. After this date, the wave picture of the instrument should not become a clearer.
Shopping goals:
1.2815 - 0.0% Fibonacci
Sales targets:
1.2385 - 127.2% Fibonacci
1.2270 - 161.8% Fibonacci
General conclusions and trading recommendations:
The pair GBP / USD supposedly completed the construction of wave 2 or b, and is also close to completion of wave 2 in 3 or c. Thus, I still recommend selling the pair, but very cautious, since the current price levels are minimal and there is still no clarity on the Brexit issue. A successful attempt to break through the 1.2815 mark will lead to the need to clarify the current wave marking.
