Wave analysis of GBP / USD for January 24. Brexit no longer interferes with the pound sterling


Wave counting analysis:

On January 23, the pair GBP / USD rose 110 bps. Thus, the current wave counting still involves the construction of an uptrend trend. But now, it is more complex in its internal structure. However, the wave pattern does not look quite convincing and may require add-ons. If you get important news from the UK on Brexit, this can be reflected in strong movements on the chart, which can break wave markings. So far, I expect growth to 32 figure.

Shopping goals:

1.3168 - 100.0% Fibonacci

Sales targets:

1.2716 - 38.2% Fibonacci (formal goal)

1.2609 - 23.6% Fibonacci (formal goal)

General conclusions and trading recommendations:

The wave pattern on the instrument has undergone certain changes and now involves the construction of a complex uptrend trend. The main thing is that the execution of this option contributed to the news background from the UK. Now, I recommend buying with targets located near the estimated mark of 1.3168, which corresponds to 100.0% Fibonacci.

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