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Analysis of GBP / USD Divergences for December 11th. Nothing can help the pound sterling.

4h

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The GBP / USD currency pair on the 4-hour chart, after the rebound from the correction level of 76.4% - 1.2812 and the formation of a bearish divergence at the CCI indicator, resumed the process of falling and completed closing below the Fibo level of 100.0% - 1.2662. As a result, the fall in quotations can be continued in the direction of the next correction level of 127.2% - 1.2491. Releasing the pair on December 11 from this level will allow us to expect a reversal in favor of the pound sterling and some growth in the direction of the correctional level of 100.0%. Fixing quotes below the Fibe level of 127.2% will work in favor of continuing to fall.

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

1h

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On the hourly chart, the currency pair performed a significant drop, but this night it completed closing above the correction level of 127.2% - 1.2567, which allows traders to expect some growth in the direction of the correctional level of 100.0% - 1.2696. However, the emerging bearish divergence in the CCI indicator also allows you to count on the resumption of a fall in the direction of the Fibo level of 161.8% - 1.2400. Closing the pair under the correction level of 127.2% can be interpreted as a reversal in favor of the US currency.

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 1.2696 and a Stop Loss order under the correction level of 127.2%, as the pair completed closing above the level of 1.2567 (hourly chart) and hold the orders until a bearish divergence is formed.

Sales of the GBP / USD currency pair can be carried out with a target of 1.2400 and a Stop Loss order above the level of 127.2% if the pair closes below the Fibo level of 1.2567 (hourly chart), especially with the formation of a bearish divergence.

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