Analysis of GBP / USD Divergences for September 7. Two rebounds from the level of 1.2952 work in favor of the US currency

4h

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The GBP / USD currency pair on the 4-hour chart reversed in favor of the British currency after the bullish divergence of the CCI indicator. As a result, the pair began the growth process in the direction of the corrective level of 200.0% - 1.3047. There are no new brewing divergences on September 7. The fall of the pair's rate from the Fibo level of 200.0% will allow traders to expect a reversal in favor of the US dollar and a slight drop towards the correction level of 261.8% - 1.2637. Fixing the quotes above the Fibo level of 200.0% will work in favor of continuing the growth of the pair.

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 retreated from the correction level of 23.6% to 1.2952 and began to fall in the direction of the corrective level of 38.2% to 1.2897. There are no maturing divergences on the current chart. Quit of quotes from the level of Fibo 38.2% will work already in favor of the pound sterling and resumption of growth in the direction of correction level of 23.6%. Fixing the pair's rate above the Fibo level of 23.6% will similarly work in favor of continuing growth in the direction of the correction level of 0.0% - 1.3043.

The Fibo grid is built on extremes from August 15, 2018, and August 30, 2018.

Recommendations for traders:

Purchases of the GBP / USD pair can be carried out for the purpose of 1.2952 and a stop loss order under the correction level of 38.2% if there is a retreat from the correction level 1,2897 (hourly chart).

Sales of the GBP / USD pair can now be carried out with the target of 1.2897 and Stop Loss order above the correction level of 23.6%, since the pair has completed the rebound from the level of 1.2952.

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