Wave analysis of GBP / USD for June 28. Wave counting is fully processed.


Analysis of wave counting:

During the trades on June 27, the GBP / USD currency pair lost about 100 percentage points. Thus, the construction of the supposed wave 3, 3, a, is proceeding according to plan. The minimum of the first wave of the new downward momentum is broken, so now there are no visible obstacles to further decrease of the pair in the direction of the calculated marks of 1.2962 and 1.2809, which corresponds to 200.0% and 261.8% of Fibonacci. Wave 2, a, received a very shortened view, which once again proves the strength of the "bearish" market sentiment. An unsuccessful attempt to break the 1.3054 mark may lead to a small withdrawal of quotations from the minima reached.

The objectives for the option with purchases:

1.3445 - 0.0% Fibonacci (formal goal)

The objectives for the option with sales:

1.3054 - 161.8% of Fibonacci

1.2962 - 200.0% of Fibonacci

1.2809 - 261.8% of Fibonacci

General conclusions and trading recommendations:

The assumed wave 2, 3, a, completed its construction. Thus, I recommend selling the pair with the targets of 1.3054 and 1.2962, which corresponds to 161.8% and 200.0% of Fibonacci. To buy in the near future there is no reason to return, because there is no reason to assume now the construction of an upward wave. It is possible only to roll back the achieved maximum within the framework of internal correctional waves in composition of wave 3, 3, a.

The material has been provided by InstaForex Company - www.instaforex.com