4h
On the 4-hour chart, the GBP / USD currency pair reversed in favor of the US currency and closed below the correction level of 76.4% - 1.2812. However, on November 21, a bullish divergence emerged near the CCI indicator, which allows traders to expect some growth in the pair. Closing quotes above the Fibo level of 76.4% will work in favor of resuming growth in the direction of the correction level of 61.8% - 1.2904. A pass of the last divergent low will work in favor of a further fall in the direction of the Fibo level of 100.0% - 1.2662.The Fibo grid was built according to extremums of August 15, 2018, and September 20, 2018.1h
On the hourly chart, the currency pair completed the fourth rebound from the Fibo level of 61.8% - 1.2878 and fixed under the correction level of 76.4% - 1.2809. As a result, the process of falling quotations can be continued in the direction of the next correction level of 100.0% - 1.2696. There is no indicator of the emerging divergences today. Fixing the pair above the Fibo level of 76.4% can be interpreted as a reversal in favor of the British currency and expect a return to the correction level of 61.8%.The Fibo grid is built on extremes from October 30, 2018, and November 7, 2018.Recommendations to traders:New purchases of the GBP / USD currency pair can be made with a target of 1.2878 and a Stop Loss order under the correction level of 76.4% if the pair closes above 1.2809 (hourly chart).The currency pair GBP / USD will be sold with a target of 1.2696 and a Stop Loss order above the level of 76.4% if the pair breaks low bullish divergence on the 4-hour chart.
