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Analysis of wave counting:
Having started the yesterday's trading with the upward movement, the currency pair GBP / USD was able to add more than 60 percentage points in price and work out the mark of 1.4185 already in the middle of the day. The resulting wave situation allows us to assume that the currency pair has completed the formation of the internal wave structure, which took a rather complicated form of wave b, c, b, B, C, C, (A). If this is the case, then practically from the high of the past day, the currency pair may resume the decline of quotations and designate the beginning of the future wave c, c, b, B, C, C, (A).
The objectives for building a downward wave:
1.3946 - 38.2% of Fibonacci
1.3823 - 50.0% of Fibonacci
The objectives for building an upward wave:
1.4200
General conclusions and trading recommendations:
The wave counting has suffered some changes. Now, we expect a resumption of a decline in quotations with targets near the calculated levels of 1.3946 and 1.3823, which corresponds to 38.2% and 50.0% of Fibonacci, within the limits of wave c, b, B, C, C, (A). The supposed wave b is close to its end, but it can get a bit more complicated with the goals, which are about 42 figures.
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