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24.04.201823:52 Forex Analysis & Reviews: Wave analysis of the GBP / USD currency pair for April 24, 2018

Long-term review

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Analysis of wave counting:

Earlier, the dynamics of the development of the downward movement allowed the currency pair GBP / USD to continue the decline during the yesterday's trading, losing about 100 percentage points in price and reached the level of 1.3925 at the end of the day. The current wave situation suggests that the currency pair remained in the final stage of formation of wave a, a, c, b, B, C, C, (A), in which its internal 5th wave took a very long form. If this is so, then the internal wave dimension of this wave a, a, c, b, B, C, C, (A), allows the probability of continuing the decline in quotations and working off the currency pair level of the 39th figure.

The objectives for building a downward wave:

1.3882 - 423.6% of Fibonacci

1.3800

The objectives for building an upward wave:

1.4200

General conclusions and trading recommendations:

The wave counting assumes the construction of a descending set of waves. The decline in quotations continues within the impulse wave with targets near the mark of 1.3882, which equates to 423.6% of Fibonacci. Within the framework of the construction of wave b, a, c, b, B, C, C, (A), an increase with targets of about 42 figures can begin. The MACD convergence warns about the readiness of the tool to increase.

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