Wave counting analysis:
During the November 28 trading session, the GBP / USD pair rose by 80 bp, and the unsuccessful attempt to break through the minimum of the alleged wave b of the corrective set of waves leaves all the same hope for the tool to build an upward wave C with targets located above 32 figures. Nevertheless, at any moment the downward trend section can become much more complicated, and the wave markings require some clarifications. This will happen if the pair breaks through the low of November 15 and 27.
Shopping goals:
1.2935 - 50.0% Fibonacci
1.2991 - 38.2% Fibonacci
1.3175 - 0.0% Fibonacci
Sales targets:
1.2695 - 100.0% Fibonacci
1.2637 - 261.8% Fibonacci (senior grid)
General conclusions and trading recommendations:
GBP / USD pair from the complication of the downward trend section holds the level of 1.2721. A successful attempt to break through this level will complicate the wave pattern, and the pound will again fall under the sale. Now, I recommend cautious purchases of the pair based on the construction of an upward wave C with targets located between 1.2935 and 1.3175, which equates to 50.0% and 0.0% Fibonacci.
The material has been provided by InstaForex Company -
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