Wave counting analysis:
On January 21, the pair GBP / USD rose 20 bps. Estimated wave completed with its construction. If this assumption is true, then the decline in quotations will continue with targets located near the levels of 38.2% and 23.6% Fibonacci. The news background is again on the side of the dollar, since no positive messages come from the UK. Theresa May's Plan "B" is not much different from Plan A, and the confusion over the whole Brexit process is now even greater. In such conditions, it is difficult to count on the growth of the pound sterling.
Shopping goals:
1.2997 - 76.4% Fibonacci
Sales targets:
1.2716 - 38.2% Fibonacci
1.2609 - 23.6% Fibonacci
General conclusions and trading recommendations:
A pair of GBP / USD shows willingness to build a downward set of waves. I recommend now cautious sales of the tool, as at any time new messages may appear on the topic of Brexit, which may affect the wave marking, with targets located near the marks 1,2716 and 1,2609.
