24.10.201812:56 Forex Analysis & Reviews: Wave analysis of GBP / USD for October 24. The level of 1.2924 is the key for the pair in the coming days.

Wave counting analysis:

In the course of trading on October 23, the GBP / USD currency pair added a few dozen points. Thus, small chances that the pair will go to the construction of the proposed wave 3, 5, upward trend segments, remain. However, the breakdown of the minimum of the estimated wave 4 will break the current wave marking and lead to the need to clarify the entire wave pattern. Thus, in the coming days, the situation for the pair should be clarified.

The objectives for the option with purchases:

1,3258 - 0.0% according to Fibonacci

1.3300 - 161.8% of Fibonacci

The objectives for the option with sales:

1.2924 - 100.0% of Fibonacci

1.2832 - 127.2% of Fibonacci

General conclusions and trading recommendations:

The currency pair GBP / USD maintains a downward mood, which may lead to the need to clarify the wave counting. So now I still recommend waiting for clarification of the situation. If the break of the 1.2924 mark does not happen, then the working version, which assumes the construction of an upward wave 3, 5, will remain. Then, it will be possible to buy a pair with targets located above the 33 figure. If the attempt to break through the mark of 1.2924 is successful, corrections will be required.