Analysis of the GBP / USD Divergences for December 3. Pound sterling continues to hold above 1.2720

4h

analytics5c04cd06efcbb.png

The GBP / USD currency pair on the 4-hour chart performed a rebound from the correction level of 76.4% - 1.2812 and resumed the process of falling in the direction of the correction level of 100.0% - 1.2662. There is no indicator of the emerging divergences today. Rebounding quotes from the Fibo level of 100.0% will allow traders to count on a reversal in favor of the British currency and a return to the correction level of 76.4%. Fixing the pair above the Fibo level of 76.4% will increase the probability of continued growth in the direction of the next correction level of 61.8% - 1.2904.

The Fibo grid was built on extremes from August 15, 2018, and September 20, 2018.

1h

bUppXDLGH4fkM_UJcKDVHdTup0-VCFclyXY_NJPW

On the hourly chart, after the formation of a bearish divergence at the CCI indicator and rebound from the Fibo level of 76.4% - 1.2809, the quotes of the pair reversed in favor of the American dollar and resumed the process of falling towards the corrective level of 100.0% - 1.2696. New emerging divergences today, no indicator. Rebounding quotes from the Fibo level of 100.0% will allow traders to expect a reversal in favor of the British currency and some growth in the direction of the correction level of 76.4%.

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

Recommendations to traders:

You can make purchases of the GBP / USD currency pair with a target of 1.2809 and a Stop Loss order under the correction level of 100.0% if the pair bounces off the level of 1.2696 (hourly chart).

New sales of the currency pair GBP / USD can be carried out with the target of 1.2696 and a Stop Loss order above the level of 76.4% if a bearish divergence is formed or the rebound from the level of 1.2809 (hourly chart) is formed.

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