Wave counting analysis:During the November 15 trading session, the GBP / USD currency pair lost about 220 basis points, thanks to the negative news background. Thus, the estimated wave b has assumed a three-wave form, however, the probability that the formation of the upward wave c is low. The news background in the form of news from the Parliament of Great Britain does not allow counting on the growth of the pound sterling. Thus, it is necessary to wait for either a fundamental change in the news background or to consider options with the complication of the downward trend section.The objectives for the option with purchases:1.3175 - 0.0% of FibonacciThe objectives for the option with sales:1.2695 - 100.0% of Fibonacci1.2637 - 261.8% of Fibonacci (senior grid)General conclusions and trading recommendations:The GBP / USD currency pair remains in the process of building an upward set of waves, but the wave marking, if successfully attempted to break through the 100.0% of the Fibonacci level, will require clarification. So far, there is still hope for an upward wave c targets located near the estimated level of 1.3175. The news background is not in favor of the pound, which can lead to a complication of the downward trend.
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