Wave analysis of GBP / USD for October 25. The wave pattern is complicated
October 25, 2018 5:21 pm
Wave counting analysis:
During the October 24 trading session, the GBP / USD currency pair lost about 100 basis points and struck a minimum of October 4. Thus, the entire wave counting has undergone certain changes and has become more complex. If the new wave marking is correct, then the wave c can continue its construction with targets located near the levels of 127.2% and 161.8% Fibonacci. An unsuccessful attempt to break through one of these levels can lead to the completion of the construction of this wave and the transition of the pair to the construction of a new uptrend or a new three wave structure.
The objectives for the option with purchases:
1.3258 – 0.0% according to Fibonacci
1.3300 – 161.8% of Fibonacci
The objectives for the option with sales:
1.2832 – 127.2% of Fibonacci
1.2718 – 161.8% of Fibonacci
General conclusions and trading recommendations:
The currency pair GBP / USD keeps the downward mood. Selling a pair now, based on the updated wave markings, is quite risky, since wave c can end at any moment. However, those who are in sales can keep them open with targets located near the estimated marks of 1.2832 and 1.2718, which corresponds to 127.2% and 161.8% of Fibonacci.
The material has been provided by InstaForex Company – www.instaforex.com
Wave counting analysis:
During the October 24 trading session, the GBP / USD currency pair lost about 100 basis points and struck a minimum of October 4. Thus, the entire wave counting has undergone certain changes and has become more complex. If the new wave marking is correct, then the wave c can continue its construction with targets located near the levels of 127.2% and 161.8% Fibonacci. An unsuccessful attempt to break through one of these levels can lead to the completion of the construction of this wave and the transition of the pair to the construction of a new uptrend or a new three wave structure.
The objectives for the option with purchases:
1.3258 – 0.0% according to Fibonacci
1.3300 – 161.8% of Fibonacci
The objectives for the option with sales:
1.2832 – 127.2% of Fibonacci
1.2718 – 161.8% of Fibonacci
General conclusions and trading recommendations:
The currency pair GBP / USD keeps the downward mood. Selling a pair now, based on the updated wave markings, is quite risky, since wave c can end at any moment. However, those who are in sales can keep them open with targets located near the estimated marks of 1.2832 and 1.2718, which corresponds to 127.2% and 161.8% of Fibonacci.
The material has been provided by InstaForex Company – www.instaforex.com
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