The GBP/USD price did not managed to come back in the limits of the previous downward corridor and started moving in the direction of the 54th figure. In the result of this movement upwards, on the chart, we can see a structure, which can be interpreted as a forming correction in the form of a down sloping triangle. If it is true, then by the current moment the pound has already set its waves a and b and is continuing to move within the assumed c wave. At the same time, it should be mentioned that in case of the whole market reversal in favor of the US dollar, the high from July 15 (1.5475) can turn out to be a finishing part of the 5th wave in the 3rd (or C). For now, the price stays within the limits of the upward channel of this 3rd wave (or C) and speaking for the current ascendant segment completion is too early.