Pair performed a U-turn in favor of the U.S. dollar and the beginning of a drop in prices, the peak bearish divergence has not been overcome. As a result, a drop in prices continues in the direction of the correctional level 100.0%- 1.6319. Rebound rate of 100.0% correction level will allow traders to count on a turn in favor of a pair of British pound and some growth in the direction of 161.8% Fib level- 1.7250. Securing quotes below the level of 100.0% correction would allow to expect a continued fall in the direction of the correctional level of 76.4% - 1.5968.
After formation of the bearish divergence on the 4 hour chart the pair continues to fall in the direction of correction level 100.0%- 1.6340. Bearish divergence of the indicator MACD: last peak quotations turned higher than the previous peak and a similar indicator-below the previous. If the pair will take a peak of divergence, it will be canceled, and price growth to continue in the direction of the correctional level 161.8 %- 1.7268. Securing rate below the 100.0 % Fib increase the likelihood of further drop in prices towards the next level of correction.
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