FOREX Signal and Divergence Analysis of GBP/USD

FOREX Signal Today

GBP/USD Pair performed a U-turn in favor of the dollar and began the process of a drop in prices in the direction of the correctional level Fib 100.0% - 1.6319. Emerging divergence in none of the indicator is not observed. Rebound of the pair on the level of 100.0% correction will allow traders to count on a turn in favor of the UK currency and continued growth in the direction of 161.8% Fib level- 1.7250. Securing quotes below the level of 100.0% correction will increase the likelihood of further fall in the direction of the next level of Fib 76.4%- 1.5968.

On the 4-hour chart has formed a bullish divergence, which leads us to expect a reversal in favor of the British currency and some growth in the direction of correction level 261.8% - 1.7289. Bullish divergence of the indicator CCI: last quotations below the previous low, and similar low indicator- higher than the previous. If quotes May 15 will be the last low divergence, it will be canceled, and depreciation will continue in the direction of the correctional level 200.0% - 1.6697. Securing the pair below the 200.0 % Fib increase the chances of a continued fall in the direction of the next level of correction.