Analysis of wave counting:
In general, it is expected that during the yesterday's trading, the pair GBP / USD continued to grow quotations and in the second half of the day was able, almost ideally, to work out a settlement target corresponding to the mark of 1.3080. Thus, it can be assumed that the whole last day, the currency pair remained in the formation stage of the wave c, b as part of a downward correction, which was developed from the August maximum. If this is the case, then keeping the potential for the development of the upward movement to 1.3150, the currency pair can start a sufficiently dynamic decline at any moment and thereby designate the beginning of the wave c with the current decreasing correctional structure.
The objectives for building the downward wave:
1,2789 - 76.4% of Fibonacci
1.2714 - 100.0% of Fibonacci
Goals for building the upward wave:
1.3080 - 61.8% of Fibonacci
1.3151 - 76.4% of Fibonacci
General conclusions and trading recommendations:
The British currency continues to build a downward set of waves. The increase in quotations may continue with the targets near the estimated levels of 1.3080 and 1.3151, which corresponds to 61.8% and 76.4% Fibonacci, within wave b as part of the 3-wave downward structure. After its completion, it is expected that the quotations will resume falling within the wave c range with targets below 28 figures.