Analysis of wave counting:
During the trades of the previous week, the GBP / USD pair continued to develop the upward movement, having added almost 500 pp in price and broke through the level of the 43rd figure on Thursday. At the same time, it can still be assumed that the currency pair remained in the formative stage of the highly extended form of the 5th wave, 5th, a, B, C, C, (A). If this is so, then from the already reached maximum, the currency pair can perform a turn and designate the beginning of the future wave b, B, C, C, (A). At the same time, the internal wave dimension of the entire 5th wave, a, B, C, C, (A) allows the probability of continuing the growth of quotations with the prospect of testing the level of 1.4500.
The objectives for working off the variant with a descending wave:
1.3200 - 1.3400
The objectives for working out the variant with an upward wave:
1.4400 - 1.4600
General conclusions and trading recommendations:
The pound sterling continues the construction of the wave B, C, C, (A). This week, the increase in quotes may continue within the internal wave 5, a, and with the goals, located about 44 and 46 figures. An upward corridor preserves the prospects of constructing an ascending set of waves. After the completion of the construction of this wave, the quotations are expected to decline within the framework of wave b, B, C, C, (A) with the first goals between 32 and 34 figures.