4h
After the GBP / USD has rebounded from the correction level of 23.6% to 1.3067, the growth continues in the direction of the Fibo level of 38.2% - 1.3316. Already tonight, the presentation of the results of the meeting of the Federal Reserve System of the USA will take place, at which the rate can be increased by 0.25%. During the release of these data, the pair can reverse in favor of the US dollar and return to the correctional level of 23.6%. Brewing divergences on September 26, there is not one indicator.
The Fibo grid is built on extremes from April 17, 2018, and August 15, 2018.
1h
On the hourly chart, the pair retreated from the correction level of 38.2% to 1.3101 and the increase to Fibo level of 23.6% to 1.3175. Quit of quotations from the correction level of 23.6% will work now in favor of the US dollar and a slight drop towards the level of Fibo 38.2% - 1.3101. There are no maturing divergences on the current chart. The pair's closing above the correction level of 23.6% will work in favor of continuing growth towards the next corrective level of 0.0% - 1.3298.
The Fibo grid is built on extremes 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 1.3298 and a Stop Loss order under the correction level of 23.6% if there is a close above the Fibo level of 1.3175 (hourly chart).
The GBP / USD currency pair can be traded with a target of 1.3101 and a Stop Loss order above 23.6% if the pair retires from the Fibo level at 1.3175 (hourly chart).
The material has been provided by InstaForex Company - www.instaforex.com