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Analysis of GBP / USD Divergences for January 25th. The pound sterling is ready for a new increase

4h

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The currency pair GBP / USD on the 4-hour chart rebounded from the Fibo level of 76.4% - 1.3094 and a slight drop after it, after which the fixation above the correction level of 76.4%. As a result, on January 25, the growth process can be continued in the direction of the next correction level of 100.0% - 1.3300. Closing the rate of the pair below the Fibo level of 76.4% mono will be interpreted as a reversal in favor of the US dollar and expect a slight fall in the direction of the correctional level of 61.8% - 1.2970.

The Fibo grid is built on extremes from September 20, 2018, and January 3, 2019.

1h

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On the hourly chart, the currency pair continues the growth process in the direction of the correction level of 200.0% - 1.3192. Today bearish divergence is brewing at the CCI indicator. The education will allow traders to expect a reversal in favor of the American dollar and a slight drop in the direction of the Fibo level of 161.8% - 1.3049. Rebound quotes from the level of 200.0% will similarly work in favor of the beginning of the fall of the pair. Closing above the level of 200.0% will increase the chances of continued growth in the direction of the next correction level of 261.8% - 1.3418.

The Fibo grid is built on extremes from December 31, 2018, and January 3, 2019.

Recommendations to traders:

Purchases of the GBP / USD currency pair can be made now with a target of 1.3192 and a Stop Loss order below the level of 76.4% since the pair completed the closure above the level of 1.3094 (hourly chart) and hold them until a bearish divergence is formed.

Sales of the GBP / USD currency pair can be made with the target of 1.3049 and a Stop Loss order above the level of 200.0% if the pair bounces off the level of 1.3392 (hourly chart), especially in conjunction with the bearish divergence.

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