The British pound has almost reached the target level of 1.3313 at the Fibonacci level of 138.2%, and this morning shows a reversal from it upwards. The growth target will be the Fibonacci level of 110.0%, which is approached by the MACD indicator line, at the price of 1.3505. Convergence remains valid.
Convergence is also created on the four-hour chart. The MACD line is close to the price. Consolidating above it, above the level of 1.3352 (November 12 low), will set the stage for a correctional price rise.
