Analysis of GBP / USD Divergences for July 13

4h

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On the 4-hour chart, the pair executed a turn in favor of the British currency and began the growth process in the direction of the corrective level of 161.8% - 1.3076. However, on July 13, the bearish divergence of the CCI indicator is boiling: The last peak of quotations may turn out to be lower than the previous one, and the analogous peak of the indicator is higher than the previous one. Bearish divergence will allow us to expect a turn in favor of the US currency and the resumption of a decline in the direction of the correction level of 100.0% - 1.2707.

Daily

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On the 24-hour chart, the drop in quotations continues in the direction of the Fibo level of 200.0% - 1.2653 after the formation of the bearish divergence. Leaving the quotations from the correction level of 200.0% will allow traders to count on a reversal in favor of the British currency and some growth towards the Fibo level of 161.8% - 1.3105. Brewing divergences are now not visible in any indicator. The consolidation of the pair's rate under the correction level of 200.0% will increase the chances for a further decline towards the corrective level of 261.8% - 1.1925.

The material has been provided by InstaForex Company - www.instaforex.com