Analysis of GBP / USD Divergences for November 23. Pound growth may stall around 1.29

4h

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On the 4-hour chart, the GBP / USD currency pair made a sharp reversal in favor of the British currency and an increase to the correction level of 61.8% - 1.2904. Releasing the pair on November 23 from the Fibo level of 61.8% allows traders to expect a reversal in favor of the American currency and a slight decline in the direction of the correction level of 76.4% - 1.2812. There is no indicator of the emerging divergences today. Fixing the pair above the Fibo level of 61.8% will work in favor of continuing growth in the direction of the next correction level of 50.0% - 1.2980.

The Fibo grid was built according to extremums of August 15, 2018, and September 20, 2018.

1h

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On the hourly chart, the quotes of the pair completed the growth to the correctional level of 61.8% - 1.2878. Rebounding the pair from the Fibo level of 61.8% will make it possible to expect a reversal in favor of the American currency and the beginning of a fall in the direction of the correction level of 76.4% - 1.2809. There are no ripening divergences on the current chart. Fixing the pair above the Fibo level of 61.8% will allow traders to expect continued growth in the direction of the next correction level of 50.0% - 1.2935.

The Fib net is built on extremes from October 30, 2018, and November 7, 2018.

Recommendations to traders:

New purchases of the GBP / USD pair can be made with a target of 1.2935 and a Stop Loss order under the correction level of 61.8% if the pair closes above 1.2878 (hourly chart).

It will be possible to sell a pair of GBP / USD with a target of 1.2809 and a Stop Loss order above the level of 61.8%, as the pair will perform a clear rebound from the level of 1.2878 (hourly chart).

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