14.02.201809:48 Forex Analysis & Reviews: Wave analysis of the GBP / USD currency pair for February 14, 2018

Analysis of wave counting:

Yesterday's GBP / USD trades began with the continuation of the upward movement, having added more than 90 percentage points in price and reached the level of 1.3925 in the middle of the day. It can be assumed that the currency pair still remained in the formation stage, which retained the elements of incomplete wave с, 4, 5, а, В, С, С, (A). If this is the case, the currency pair may resume the decline at any time in the direction of the level of the 37th figure or even at 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.