Analysis of wave counting:
During yesterday's trading, the GBP / USD pair continued to develop the upward movement that started on Thursday and stopped at the mark of 1.3060 at the end of the day. It can be assumed that the currency pair made attempts to transition to the stage of forming the first generating waves in the composition of the future 3rd wave, in the 3rd, 5th, 3rd, or C. If this is the case, then the currency pair may continue to increase the quotations to 1.3150 or even to the level of the 32nd figure.
Objectives for a downward wave option:
1.2900 - 1.3000
Objectives for an upward wave option:
1.3148 - 76.4% by Fibonacci
1.3200
General conclusions and trading recommendations:
The British currency has undergone new adjustments to wave counting. At the moment, the quotations are expected to increase within wave 3, at 5, 3 or C, with targets near the mark of 1.3148, which corresponds to 76.4% of Fibonacci, and above about 32 figures. The correction wave 2, at 3, 5, 3 or C, presumably completed its construction.
