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Analysis of GBP / USD Divergences for December 26th. The pound closed above side range

4h

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The GBP / USD currency pair on the 4-hour chart broke the upper limit of the lateral range but did not rise far above it. Since the next closing above the Fibo level of 100.0% - 1.2662 is completed, traders can count on continued growth towards the correctional level of 76.4% - 1.2812. There are no emerging divergences today. Fixing the pair below the Fibo level of 100.0% will work in favor of the American dollar and resuming the fall in the direction of the correction level of 127.2% - 1.2491.

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 pair completed the fifth attempt to close above the correction level of 100.0% - 1.2696. As a result, on December 26, the growth of quotations can be continued in the direction of the correctional level of 76.4% - 1.2809. Fixing quotes under the Fibo level of 100.0% will work in favor of the US dollar and a slight decline in the direction of the correction level of 127.2% - 1.2566. Maturing divergences today on the current schedule is not observed.

The Fibo grid is built on extremes from October 30, 2018, and November 7, 2018.

Recommendations to traders:

Purchases of the GBP / USD currency pair can be made now with a target of 1.2809 and a Stop Loss order below the level of 100.0%, as the pair completed closing above the correction level of 1.2696 (hourly chart).

Sales of the GBP / USD currency pair can be carried out with a target of 1.2566 and a Stop Loss order above the level of 100.0% if the pair closes below the level of 1.2696 (hourly chart).

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