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Analysis of GBP / USD Divergences for September 27. The pound fell slightly after the Fed decided on the rate

4h

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Quotes of the currency pair GBP / USD executed a turn in favor of the US dollar and began the process of returning to the level of Fibo 23.6% - 1.3067, after the Fed decided to raise the rate to 2.25%. The pair's retracement from the correction level of 23.6% will allow traders to count on a reversal in favor of the British currency and the resumption of growth towards the corrective level of 38.2% to 1.3316. Fixing quotations under the Fibo level of 23.6% will work in favor of continuing to fall in the direction of the next correction level of 0.0% - 1.2662.

The Fibo grid was built according to extremums of April 17, 2018, and August 15, 2018.

1h

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On the hourly chart of the pair, after the formation of the bearish divergence in the MACD indicator, the pair executed a reversal in favor of the US currency and began to drop in the direction of the correction level of 38.2% - 1.3101. New emerging divergences are not observed. The release of the pair on September 27 will make it possible to expect a turn in favor of the British currency and some growth towards the Fibo level of 23.6% - 1.3176. Fixing quotations under the Fibo level of 38.2% will increase the chances for a further fall in the direction of the next correction level of 50.0% - 1.3042.

The Fib net is built on extremums from September 5, 2018, and September 20, 2018.

Recommendations for traders:

Purchases of the GBP / USD currency pair can be carried out with a target of 1.3176 and a stop loss order under the correction level of 38.2% if the Fibo level breaks 1.3101 (hourly chart).

The GBP / USD currency pair can now be traded with a target of 1.3101 and a Stop Loss order above 23.6%, as the pair completed the close under the Fibo level of 1.3176 (hourly chart) with the formation of a bearish divergence.

The material has been provided by InstaForex Company - www.instaforex.com