4h
The currency pair GBP / USD on the 4-hour chart consolidated above the Fibo level of 76.4% - 1.3098. Thus, the pair continues to grow in the direction of the correction level of 100.0% - 1.3300. Over the current chart, there are no divergences observed in any indicator. Reversing quotes from the level of 100.0% will allow traders to expect a reversal in favor of the American dollar and a slight drop in the direction of the Fibo level of 76.4%. Closing the pair above the level of 100.0% will work in favor of continuing growth in the direction of the next correction level of 127.2% - 1.3530.
The Fibo grid is built on extremums from September 20, 2018, and January 3, 2019.
1h
On the hourly chart, the currency pair continues to close above the correction level of 200.0% - 1.3192. Thus, the growth process can be continued in the direction of the next Fibo level of 261.8% - 1.3418. The ripening divergences are not observed on January 28th. Closing the course below the Fibo level of 200.0% can be interpreted as a reversal in favor of the US dollar and expect a slight drop in the direction of the correction level of 161.8% - 1.3044.
The Fibo grid is built on extremes from December 31, 2018, and January 3, 2019.
Recommendations to traders:
Purchases of the currency pair GBP / USD can be carried out now with the target of 1.3418 and a Stop Loss order below the level of 200.0%, as the pair completed closing above the level of 1.3192 (hourly chart).
Sales of the currency pair GBP / USD can be carried out with the target of 1.3044 and a Stop Loss order above the level of 200.0% if the pair closes below the level of 1.3192 (hourly chart).
