13.02.201810:12 Forex Analysis & Reviews: Wave analysis of the GBP / USD currency pair for February 13, 2018

Analysis of wave counting:

Yesterday, the attempt to develop a significant upward movement was not successful, and from the mark of 1.3875, the price of the GBP / USD pair returned to the level of the 38th figure. At the same time, it can be assumed that the currency pair remained in the formative stage of the still not completed wave c, 4, 5, a, B, C, C, (A). If this is the case, the currency pair has retained the potential to enable it to work at 1.3700, or even continue the decline of quotations to 1.3550.

The objectives for building a downward wave:

1.3700 - 61.8% of Fibonacci

1.3547 - 76.4% of Fibonacci

The objectives for building an upward wave:

1.4294 - 685.4% of Fibonacci

1.4400

General conclusions and trading recommendations:

The construction of the upward trend section continues, but the entire wave counting of the instrument is not entirely unambiguous now. The assumed wave 4, 5, a, B, C, C, (A) continues its construction with targets located near the calculated marks of 1.3700 and 1.3547, which corresponds to 61.8% and 76.4% of Fibonacci.