4h
The currencypair GBP / USD on the 4-hour chart has increased to a correction level of 200.0% - 1.3047 and a retreat from it with a reversal in favor of the US currency. As a result, on September 12, the quotations began to fall in the direction of the Fibo level of 261.8% - 1.2637. There are no maturing divergences on the current chart. Fixing the pair's quotations above the correction level of 200.0% will increase the probability of further growth in the direction of the next corrective level of 161.8% - 1.3301.
The Fibo grid is built on extremes from March 1, 2018, and April 17, 2018.
1h
On the hourly chart, the pair retreated from the Fibo level of 76.4% to 1.2982, and later turned in favor of the US currency. Thus, the pair can return to the correction level of 76.4%. The new retreat from this level will again allow us to count on a turn in favor of the British currency and some growth in the direction of the corrective level of 100.0% - 1.3043. The consolidation of the pair's rate below the Fibo level of 76.4% will work in favor of continuing the fall towards the next correction level of 61.8% - 1.2944.
The Fibo grid is built on extremes from August 30, 2018, and September 5, 2018.
Recommendations for traders:
New purchases of the GBP / USD pair can be carried out for the purpose of 1.3043 and a Stop Loss order under the correction level of 76.4% if there is a retreat from the level of 1.2982 (hourly chart).
Sales of the GBP / USD pair will be possible with targets of 1.2944 and 1.2913 and a Stop Loss order above the correction level of 76.4% if the pair completes closing below the Fibo level of 1.2982.
