FOREX Trading Signal: GBP/USD Today on 19th May

GBP/USD Trend Today

Quotes performed reversal in favor of the U.S. dollar and began the process of falling in the direction of the correctional level 100.0% - 1.6319. Emerging divergence in none of the indicator is not visible. Rebound of the pair on the level of 100.0% correction will allow traders to count on a turn in favor of the British currency and some growth in the direction of 161.8% Fib level - 1.7250. Securing the pair below the level of 100.0% correction will increase the likelihood of continuing drop in prices towards the next correction level 76.4%- 1.5968.

Couple on the 4-hour chart has formed a bullish divergence, but her last low passed and she canceled, but the couple still performed a U-turn in favor of the British pound and the beginning of growth in the direction of correction level 261.8% - 1.7289. Emerging divergence is observed. Securing of the pair on May 19 under the level of 200.0% correction would allow to expect further drop in prices in the direction of the correctional level 161.8% - 1.6336.