Wave counting analysis:
On January 14, the GBP / USD pair added about 20 bp, stopping near the 61.8% Fibonacci level was short-lived. The instrument showed its readiness to further increase as part of the proposed wave 3 of the new uptrend trend. Today, January 15, a vote will be held in the British Parliament on the exit plan from the EU, which has been coordinated with European leaders Teresa May. According to rumors, it will be rejected by parliamentarians, but in any case, strong movements in different directions during the day are possible.
Shopping goals:
1.2997 - 76.4% Fibonacci
Sales targets:
1.2716 - 38.2% Fibonacci
1.2609 - 23.6% Fibonacci
General conclusions and trading recommendations:
The pair GBP / USD continues to build an upward wave. Based on the updated wave marking, I recommend cautious purchases with the target of 1.2997, which equates to 76.4% Fibonacci. Today, I recommend trading with extreme caution. Since there is no exact time when to expect voting results; therefore, information on this topic can be received at any time, and the market reaction can be turbulent.
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