16.04.201823:54 Forex Analysis & Reviews: Wave analysis of the GBP / USD currency pair for April 16, 2018

Analysis of wave counting:

As expected, the GBP / USD pair's trading started from the upward movement and stopped several points from the level of the 43rd figure at the beginning of the European session. Thus, we can assume that the currency pair remained in the final stage of the formation of the wave e, b, b, B, C, C, (A). If this is the case, then before the beginning of the future wave c, b, B, C, C, (A), the currency pair can retry testing the level of 1.4300.

The objectives for building a downward wave:

1.3946 - 38.2% of Fibonacci

1.3823 - 50.0% of Fibonacci

The objectives for building an upward wave:

1.4300

General conclusions and trading recommendations:

The wave counting continues to get complicated and tangled. Now, we expect a resumption of the decline in quotations with targets near the calculated levels of 1.3946 and 1.3823, which corresponds to 38.2% and 50.0% of Fibonacci, within the limits of wave c, b, B, C, C, (A). The supposed wave b is close to its end, but it can get a bit more complicated with the goals, which are about 43 figures.