22.01.201809:47 Forex Analysis & Reviews: Wave analysis of the GBP / USD currency pair. Weekly review

Analysis of wave counting:

Last week's GBP / USD pair started with an upward movement, adding about 220 pp in price and finished the Friday session with the achievement of the mark of 1.3945. Thus, it can be assumed that the internal wave structure of the 5th wave, in the 5th, a, B, C, C, (A), and in this entire 5th wave, a, B, C, C, (A), has acquired a practically completed form. If this is so, then, while maintaining the potential for growth of quotations to the level of the 40th figure, the currency pair can perform a turn and still go to the stage of formation of the future wave b, B, C, C, (A).

The objectives for working off the option with a downward wave:

1.3065 - 38.2% of Fibonacci

1.2882 - 50.0% of Fibonacci

Goals for working out the option with an upward wave:

1.4000 - 1.4100

General conclusions and trading recommendations:

The pound sterling continues the construction of the wave B, C, C, (A). This week, the increase in quotations may continue within the internal wave 5, a, and with the goals, located about 40 and 41 figures. An upward corridor preserves the prospects of constructing an ascending set of waves. After the completion of the construction of this wave, the quotations are expected to decline within the framework of wave b, B, C, C, (A) with the first targets, about 34 figures.