FX.co ★ Wave analysis of the GBP/USD currency pair for April 13, 2018

Analysis of wave counting:

After failing to perform a turnaround, in the middle of yesterday's trading, the GBP/USD pair resumed the upward movement and added almost 100 percentage point in price, updated the highs from March 27, having worked at the 1.4245 mark. Thus, there are grounds for considering this March high as the wave crest c, in b, in b, in B, in C, in C, in (A). If this is the case, before ending the wave e, in b, in b, in B, in C, in C, in (A) and designate the beginning of the future wave c, in b, in B, in C, in C, in (A), the currency pair will continue to rise in quotations to the level of the 43rd figure.

Targets for a downward wave option:

1.3946 - 38.2% by Fibonacci

1.3823 - 50.0% by Fibonacci

Targets for an upward wave option:

1.4300

General conclusions and trading recommendations:

Wave counting continues to get complicated and tangled. Now we expect a resumption of the decline in quotations with targets near the estimated levels of 1.3946 and 1.3823, which corresponds to 38.2% and 50.0% of Fibonacci, within the limits of wave c, in b, in B, in C, in C , in (A). The assumed wave b is close to its end, but it can get a bit more complicated with the targets, which are about 43 figures.