Wave counting analysis:
On December 27, the GBP / USD currency pair gained around 15 basis points during the day. Thus, the estimated wave c, 2, b, is still considered complete. If this is true, the decline in quotations will continue with the first targets located near the level of 0.0%. A break of 38.2% on the lower Fibonacci grid will indicate a pair's readiness to increase and complicate wave 2 or b. The news background is now "zero", which affects trading activity.
Objectives for the option with purchases:
1.2742 - 38.2% of Fibonacci
1.2825 - 50.0% of Fibonacci
Objectives for the option with sales:
1.2475 - 0.0% of Fibonacci
1.2229 - 323.6% of Fibonacci (senior grid)
General conclusions and trading recommendations:
The GBP / USD currency pair supposedly completed the construction of a 3-wave structure. The unsuccessful attempt to break through the mark of 1.2742 indicates the pair's willingness to decline, and I recommend selling the pair with targets located about 25 figures below. Now, there is no news, which affects the activity of the tool and slightly complicates the wave pattern.
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