Analysis of wave counting:
At the beginning of the Friday's European session, unable to execute a reversal, the GBP/USD pair resumed the upward movement and reached the level of 1.3360 at the end of the day. Thus, it seems that the currency pair still complicated the internal wave structure of the 5th wave, in c, in e, in b, in the 4th. If this is the case, then the attempt to raise the currency pair to the level of the 34th figure can trigger the beginning of a fairly dynamic decline in quotations and the price transition to the stage of formation of the future wave c, in the 4th.
Targets for a downward wave option:
1.3065 - 38.2% by Fibonacci
1.2882 - 50.0% by Fibonacci
Targets for an upward wave option:
1.3300 - 1.3400
General conclusions and trading recommendations:
The construction of the downward wave 4 in the upward trend section continues. Now it is possible to resume the decline in the price of the trading instrument with targets near the estimated level of 1.2882, which corresponds to 50.0% of the Fibonacci, within the wave c, in 4. Wave b, in 4, so far, continues its construction by complicating its internal structure, with targets located between 33 and 34 figures.