24.11.201700:20 Forex Analysis & Reviews: Wave analysis of the GBP/USD currency pair for November 23, 2017

nalysis of wave counting:

Yesterday's weakening of the dollar against almost all major global currencies allowed the GBP/USD pair to resume its upward movement in the middle of the day and, having added more than 100 percentage points in price, to complete the selling above the level of the 33rd figure. Thus, the internal wave structure of the wave e, in b, in the 4th, as the whole wave b, in the fourth, took a completely finished form. If this is the case, then from the high of the previous day, or after the breakdown of the mark of 1.3350, the currency pair will still show a reversal, thus indicating the beginning of the future wave with c, in the 4th.

Targets for a downward wave option:

1.3065 - 38.2% by Fibonacci

1.2882 - 50.0% by Fibonacci

Targets for an upward wave option:

1.3291 - 23.6% by Fibonacci

1.3400

General conclusions and trading recommendations:

The construction of the downward wave 4 in the upward trend section continues. Now it is possible to resume the decline in the price of the trading instrument with targets near the estimated level of 1.2882, which corresponds to 50.0% of Fibonacci, within the wave c, in 4. Wave b, in 4, resumed its construction, having complicated its internal structure, at about 33 and 34 figures.