Analysis of wave counting:
The acceleration of the August inflation indicators in Britain was optimistically welcomed by the market, which allowed the GBP/USD pair to continue its upward movement and at the end of the day to end tt a few points from the level of the 33rd figure. At the same time, in connection with the breakdown of the currency pair of the highs from 03.08.17 (1.3270), it can be assumed that the internal wave structure of the 5th wave, in the 3rd (or C), took a much more complicated form and at the moment the currency the pair is in the stage of formation of the 3rd wave, in the 5th, in the 5th, in the 3rd (or C), in the composition of the rising section of the trend, which has developed further from the lows of the beginning of the year.
Objectives for a building an downward wave option:
1.3100 - 1.3200
Objectives for building an upward wave option:
1.3336 - 300.0% by Fibonacci
1.3400
General conclusions and trading recommendations:
Wave counting has undergone some changes in connection with the breakdown of the mark of 1.3270. The increase in prices continues with the targets near the estimated level of 1.3336, which corresponds to 300.0% of Fibonacci, and above, about 34 figures, within 3, at 5, at 5, in 3 (or C). Within the framework of the correctional wave 4, a slight decrease is possible with the targets being about 32 and 31 figures.