GBP/USD - Moving up in a corrective fashion

As expected the move higher from 1.2865 doesn't move in an impulsive fashion. The current structure suggests that we could see first a move down in a B-wave followed by a last push up to complete wave Y before resuming the down trend. I believe 1.3465 is a viable minimum target (C=A). Below 1.3059 would invalidate this count.