Quotes performed reversal in favor of England currency and consolidation of correctional Fibo level 100.0%-1.6334. As a result, the growth rate continues towards the next correction level 161.8%-1.7255. Emerging divergence in none of the indicator is not observed. Securing the pair below the 100% Fib allows traders to expect a reversal in favor of the U.S. dollar and a fall in the direction of the correctional level of 76.4%-1.5975.
British pound whenever tried to continue its upward trend against the U.S. dollar , but any strong growth wave constantly led to correction of the pair down and removal of stop orders buyers. In general, the bulls have achieved what they wanted, but at what cost? On the day the fair price protection zones are located in areas VAL - 1.6414 and VAH -1.6470. Control point POC was formed in 1.6448.
Forecast for today:
During today's Asian session, the British pound was trading in a narrow sideways channel against the U.S. dollar.
In case of further movement of the pair up , the first level of resistance will VAH from February 11-1.6470 , above which the British can catch POC from January 30 - 1.6480 from which further strengthened with the primary purpose test VAL, January 27-1.6511 and VAL 29 January - 1.6549.
If the Bears will have a strong growth and GBP / USD will be limited , a good level of support for the pair perform VAH region from February 3 - 1.6439 , below which the decline of the pound may lead to test POC from February 10 - 1.6409 and then VAH from February 7 - 1.6385 . Fastening under these levels return GBP / USD to test VAH from February 5 - 1.6341 and then VAH 6 February - 1.6324. The farthest goal is to decline to POC from February 4 - 1.6305.
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