Analysis of wave counting:

Yesterday's GBP / USD trades started with a downward movement. After losing more than 120 percentage points, it dropped to the level of 1.2845 in the afternoon. Thus, it can be assumed that the currency pair did not give the wave (b) in a form of a horizontal triangle with a decreasing corrective structure that originated from the maximum on August 3. As a result of this decline, it passed to the stage of wave (s) formation. If this happens, the ratio between the dimensions of waves a and c in a downward correction allows the probability of the continuation of a decrease in quotations to the level of 1.2790 or even almost to the level of the 27th figure.

Objectives for building a downward wave:

1,2835 - 61,8% by Fibonacci

1,2789 - 76.4% Fibonacci retracement

Goals for building an upward wave:

1,3000 - 1,3100

General conclusions and trade recommendations: