Analysis of wave counting:

The GBP/USD pair spent the day in a very narrow price range, and during the end of trading session, the Cable pair was able to add about 100 pp. and acquired the mark of 1.3585. At the same time, it can be assumed that the currency pair was able to remain in the formative stage of taking rather the complex form of the 4th wave, in the 5th, in the 5th, in the 3rd (or C). If this is the case then, maintaining the potential for continuing the upward movement, in the course of further development of this 4th wave, in the 5th, 5th, and 3rd (or C), the currency pair may resume the decline of prices towards the direction of 34th figure level or to the 1.3325 mark.

Objectives for building a downward wave:

1.3437 - 23.6% Fibonacci retracement

1.3325 - 38.2% by Fibonacci

Goals for building an upward wave:

11.3599 - 423.6% Fibonacci retracement

1.3700

General conclusions and trading recommendations: