19.09.201709:32 Forex Analysis & Reviews: Wave analysis of the GBP / USD currency pair for September 19, 2017

Analysis of wave counting:

In general, it is expected that during the yesterday's trading, the repeated breakdown of the level of the 36th figure provoked the pair GBP / USD to rollback its price by more than 150 percentage points from the maximum reached at the beginning of the European session (1.3618). In this case, the internal wave structure of the third wave, in the 5th, in the 5th, in the 3rd (or C), took a fully completed form. If this is the case, then in the process of forming the 4th wave, in the 5th, in the 5th, in the 3rd (or C), the currency pair can continue the already-indicated downward movement to 1.3235, or even to 1 , 3145.

The objectives for building the downward wave:

1.3437 - 23.6% Fibonacci

1.3325 - 38.2% Fibonacci

Aims to build the upward wave:

1.3599 - 423.6% Fibonacci

1.3700

General conclusions and trading recommendations:

Wave counting has suffered some changes in connection with the breakdown of the mark of 1.3270. The increase in quotations may resume with targets near the estimated level of 1.3599, which corresponds to 423.6% of Fibonacci, and above, about 37 figures, within 5, at 5, at 5, at 3 (or C). Within the limits of the correction wave 4, the decline began with the targets near the markings 1.3437 and 1.3325, which corresponds to 23.6% and 38.2% Fibonacci. Unsuccessful attempt to break the mark of 1.3599 led to the withdrawal of quotations from the peaks reached.