4h
The GBP / USD currency pair on a 4-hour chart, after a rebound from the correction level of 127.2% - 1.2491, performed a U-turn in favor of the British currency and an increase to the correction level of 100.0% - 1.2662. Rebounding the quotations of the pair on January 4 from this level will allow us to expect a reversal in favor of the US currency and a return to the Fibo level of 127.2% - 1.2491. There are no ripening divergences today. Fixing the pair over the correction level of 100.0% will increase the chances for further growth in the direction of 76.4% - 1.2812.
The Fibo grid is built on extremes from August 15, 2018, and September 20, 2018.
1h
On the hourly chart, the quotes of the pair completed the growth to the correction level of 50.0% - 1.2646. Releasing the pair from this Fibo level will allow traders to expect a reversal in favor of the American dollar and a slight drop towards the level of 76.4% - 1.2556. Fixing the pair above the Fibo level of 50.0% will work in favor of continuing growth in the direction of the following correction levels of 38.2% - 1.2685 and 23.6% - 1.2734. There are no maturing divergences on the current chart.
The Fibo grid is built on extremums from December 12, 2018, and December 31, 2018.
Recommendations to traders:
You can make purchases of the GBP / USD currency pair with targets at 1.2685 and 1.2734 and a Stop Loss order below the level of 50.0% if the pair closes above the Fibo level of 1.2646 (hourly chart).
Sales of the GBP / USD currency pair can be carried out with targets at 1.2606 and 1.2556 and a Stop Loss order above the level of 50.0% if the pair bounces back from the level of 1.2646 (hourly chart).
