FX.co ★ Wave analysis of the GBP / USD currency pair for July 31, 2017

Analysis of wave counting:

Unable to continue the decline from the previous day, the GBP / USD pair started trading on Friday with a downward movement and returned to the level of 1.3150 at the end of the day.

Objectives for building a downward wave:

1.3063 - 61.8% Fibonnaci retracement

1.2900 - 1.3000

Goals for building an upward wave: 1.3148 - 76.4% by Fibonacci 1.3250

General conclusions and trade recommendations:

The British currency has undergone new adjustments on wave counting.