Analysis of GBP / USD Divergences for July 9. The pound sterling takes an example from the euro.

4h

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The pair GBP / USD on the 4-hour chart has increased to the corrective level of 161.8% - 1.3301. The pair's retreat from this level of Fibo will allow us to count on a reversal in favor of the US dollar and a slight drop toward the correction level of 200.0% to 1.3048. On July 9, there are no signs of divergence in any indicator. Fixing the quotes above the Fibo level 161.8% will increase the probability of continuing growth towards the next correction level of 127.2% - 1.3530.

The Fibo grid is built on extremes from March 1, 2018, and April 17, 2018.

1h

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On the hourly chart, the pair GBP / USD performed first growth to the correction level of 100.0% - 1.3314, and then the retreat from this level of Fibo. As a result, quotes performed a turn in favor of the US currency and began the process of falling towards the correctional level of 76.4% - 1.3252. There are no maturing divergences today. The consolidation of the pair's rate above the Fibo level of 100.0% will allow traders to count on further growth in the direction of the next correction level of 127.2% - 1.3386.

The Fibo grid is built on the extremes of June 22, 2018, and June 28, 2018.

Recommendations for traders:

New purchases of the GBP / USD pair can be carried out for the purpose of 1.3386 and a Stop Loss order under the correction level of 1.3314 if the Fibo closing is 100.0% (hourly chart).

The GBP / USD pair can now be traded with a target of 1.3252 and a Stop Loss order above the correction level of 100.0%, as there has been a retreat from the Fibo level of 1.3314.

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