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29.01.201909:53 Forex Analysis & Reviews: Wave analysis of GBP / USD for January 29. Will the growth of the pound after the vote in parliament?

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 29.01.2019 analysis

Wave counting analysis:

On January 28, the GBP / USD pair dropped by 30 bps. and the current wave counting again has not suffered any changes or additions. Tonight, in the British Parliament, a second vote on the issue of Brexit was held. The pound sterling in recent weeks did not pay any attention to the events associated with Brexit. Therefore, the evening session of the Parliament will be doubly interesting. Moreover, the further behavior of the pair and the wave marking will Depend on the decision with the EU and subsequent events.

Shopping goals:

1,3297 - 127.2% Fibonacci

1.3367 - 127.2% Fibonacci

Sales targets:

1.2996 - 76.4% Fibonacci

1.2889 - 61.8% Fibonacci

General conclusions and trading recommendations:

The wave pattern involves the construction of 5 internal waves in part 3, but this wave counting can be broken if parliament makes an unprecedented or unexpected decision today. Now, I recommend purchases with targets located near the estimated levels of 1.3397 and 1.3367, which corresponds to 127.2% and 127.2% in Fibonacci, since the estimated wave 3 does not look completely complete. In the evening, I recommend trading very carefully.

Chin Zhao
Analytical expert of InstaForex
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