Pair performed a U-turn in favor of the U.S. dollar and the beginning of the process of falling in the direction of the correctional level Fib 100.0% - 1.6319. Emerging divergence in none of the indicator is not observed. Rebound from a pair of 100.0% correction level allows traders count on a turn in favor of the British pound and some growth in the direction of 161.8% Fib level - 1.7250. Securing the pair below the 100.0% Fib increase the chances of a further drop in prices towards the next correction level 76.4% - 1.5968.
Pair GBP/USD on the 4-hour chart has formed a bullish divergence, but her last low passed and she canceled later pair performed a U-turn in favor of the currency of England and started in the direction of growth of 261.8% correction level - 1.7289. Emerging divergence is not visible. Securing of the pair on May 20 under the level of 200.0% correction will allow traders to expect a further drop in prices in the direction of the correctional level Fib 161.8% - 1.6336.
