Analysis of wave counting:
The attempt to continue the downward movement ended yesterday with a failure and the subsequent price rebound on the GBP/USD pair by more than 70 percentage points. from the lows reached in the middle of the day. In this case, the internal wave structure of the wave c, in a, like the entire wave a, in c, in b, in B, in C, in C, in (A), assumed a completely finished form. If this is the case and wave c, in a, in c, in b, in B, in C, in C, in (A) does not take an even more complicated form, then the already identified the growth of quotations can be further developed, with the prospect of transition currency pair into the stage of formation of the future wave b, in c, in b, in B, in C, in C, in (A).
Targets for building a downward wave:
1.3714 - 61.8% by Fibonacci
1.3647 - 76.4% by Fibonacci
Targets for building an upward wave:
1.4000
General conclusions and trading recommendations:
Wave counting assumes the construction of a descending set of waves. Reduced quotes may continue within wave c, in a, in c, in b, in B, in C, C, in (A) with the targets located nearby marks of 1.3714 and 1.3647, which is equal to 61. 8% and 76.4% by Fibonacci. Within the framework of the construction of wave b, in c, in b, in B, in C, in C, in (A), the quotations may start to move away from the reached lows with targets about 40 figures. Convergence MACD_aka warns of the willingness of the trading instrument to build an upward wave.