Analysis of wave counting:
In general, it is expected that during the yesterday's trading, the pair GBP / USD started with an upward movement, having added more than 100 pp in the price and broke the 1.3180 mark in the afternoon. Thus, we can assume that having completed the wave a, 4 on Friday, the currency pair tried to designate the beginning of wave b, in the 4th. If this is so, and the resumption of the decline to 1.2980, the currency pair will not further complicate the internal wave structure of the wave a, to the fourth, then it may have good prerequisites for the growth of quotations, at least to the level of the 33rd figure.
The objectives for the construction of the downward wave:
1.2981 - 300.0% of Fibonacci
1.2882 - 50.0% Fibonacci
Goals for the construction of the upward wave:
1.3186 - 200.0% of Fibonacci
1.3291 - 23.6% of Fibonacci
General conclusions and trading recommendations:
The downward wave 4 continues to build in the uptrend section of the trend. Now, it is possible to continue the decline of quotations with targets near the estimated levels of 1.2981 and 1.2882, which corresponds to 300.0% and 50.0% of Fibonacci, within the wave a, 4. Within the corrective wave b, 4 may begin (or has already begun) an increase with targets near the mark of 1.3291, which corresponds to 23.6% of Fibonacci.