Wave counting analysis:
On January 28, the GBP / USD pair dropped by 30 bps. and the current wave counting again has not suffered any changes or additions. Tonight, in the British Parliament, a second vote on the issue of Brexit was held. The pound sterling in recent weeks did not pay any attention to the events associated with Brexit. Therefore, the evening session of the Parliament will be doubly interesting. Moreover, the further behavior of the pair and the wave marking will Depend on the decision with the EU and subsequent events.
1,3297 – 127.2% Fibonacci
1.3367 – 127.2% Fibonacci
1.2996 – 76.4% Fibonacci
1.2889 – 61.8% Fibonacci
General conclusions and trading recommendations:
The wave pattern involves the construction of 5 internal waves in part 3, but this wave counting can be broken if parliament makes an unprecedented or unexpected decision today. Now, I recommend purchases with targets located near the estimated levels of 1.3397 and 1.3367, which corresponds to 127.2% and 127.2% in Fibonacci, since the estimated wave 3 does not look completely complete. In the evening, I recommend trading very carefully.
The material has been provided by InstaForex Company – www.instaforex.com