FX.co ★ Wave analysis of the currency pair GBP/USD. Weekly review

Analysis of wave counting:

After failing to test the level of the 28th figure on Wednesday, the GBP / USD pair resumed the development of the upward movement, adding around 300 points in price, and completed the breakout session at the level of 1.3100.

Objectives for a downward wave option:

1.2626 - 61.8% by Fibonacci

1.2536 - 76.4% by Fibonacci

Objectives for an upward wave option:

1.1570 - 161.8% by Fibonacci

General conclusions and trading recommendations:

The sterling pound continues to build an extended upward correction.