Analysis of wave counting:
During yesterday's European session, the GBP / USD pair started with a downward movement and having lost more than 140 pp from the high of the day, the 1.3185 benchmark closed before the close of US trading. At the same time, it can be assumed that, as a result of this price, the currency pair has been completed in the third, in the 5th, . If this is the case, then from the low of the past day, or slightly lower than the level of the 34th figure.
Objectives for a downward wave option:
1.3168 - 38.2% by Fibonacci
1.3118 - 50.0% by Fibonacci
Objectives for an upward wave option:
1.3336 - 300.0% by Fibonacci
1.3400
General conclusions and trading recommendations:
Wave counting has undergone some changes in connection with the breakdown of the level of 1.3270. The increase in prices may be with the targets near the estimated level of 1.3336, which corresponds to 300.0% of Fibonacci, and above, about 34 figures, within 3, at 5, at 5, at 3 (or C). Within the limits of the correction wave 4, the decline began with targets near the marks of 1,3168 and 1,3118, which corresponds to 38.2% and 50.0% of Fibonacci.