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24.11.201711:00 Forex Analysis & Reviews: Wave analysis of the GBP/USD currency pair for November 24, 2017

Long-term review

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Analysis of wave counting:

After a fairly dynamic price increase yesterday, the GBP/USD pair held in the range yesterday, staying mostly near the level of the 33rd figure. It can be assumed that the currency pair made an attempt to complete the wave e, in b, in the 4th and go to the stage of formation of the future wave c, in the 4th. If this is the case, with an increase to 1.3350, the currency pair will not further complicate the internal wave structure of e, in b, in the 4th, then the already apparent decline in quotations may be further developed towards the level of 1.3000.

Targets for a downward wave option:

1.3065 - 38.2% by Fibonacci

1.2882 - 50.0% by Fibonacci

Targets for an upward wave option:

1.3300 - 1.3400

The construction of the downward wave 4 in the upward trend section continues. Now it is possible to resume the decline in the price of the trading instrument with targets near the estimated level of 1.2882, which corresponds to 50.0% of Fibonacci, within the wave c, in 4. Wave b, in 4, resumed its construction, having complicated its internal structure, at about 33 and 34 figures.

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