After the formation of bullish divergence quotes continue to rise in the direction of correction level 161.8%- 1.7250. Bullish Divergence indicator MACD: last low quotations turned higher than the previous low, a similar indicator- below the previous. If the last low quotes is passed, then the pair will perform a U-turn in favor of the U.S. currency and starts falling, and the divergence is canceled. Emerging divergence is observed. Securing of the pair below the 100.0 % Fib- 1.6319 increase the chances of a further fall in the direction of the next correction level 76.4%- 1.5968.
Quotes on 4-hour chart continues the process of falling in the direction of correction level 200.0% - 1.6697 after the formation of a bearish divergence. Bearish divergence of the indicator MACD: last peak quotations received the same with the previous one, and the same peak indicator - below the previous. Retreat from the correction level 200.0% April 28, allows traders to expect a reversal in favor of the currency of England and some growth in the direction of 261.8% Fib level - 1.7289. Securing of the pair below the 200.0% correction will allow to count on a continued fall.
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