Analysis of the divergence of GBP / USD for February 15. New bullish divergence will allow the pound to rise slightly

4h

-2jZkZa2xCgc500FneAlvCxEqtkyM23ZnxIT11B3

On a 4-hour chart, the GBP / USD currency pair fell to the correctional level of 38.2% - 1.2765, before reaching it quite a bit. A new bullish divergence was formed in the CCI indicator, which allows traders to expect a reversal in favor of the British currency and some growth in the direction of the correction level of 50.0% - 1.2869. Breaking quotes from the Fibo level of 38.2% will increase the likelihood of the pair starting to grow. Closing quotes below the correction level of 38.2% will work in favor of a further fall in the direction of the next Fibo level of 23.6% - 1.2639.

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

1h

HKgle6i82kxnsjZQYWJxYH_6faKpsv3HVjsU0iQQ

On the hourly chart, the currency pair continues the process of falling and completed closing under the correction level of 76.4% - 1.2799. As a result, on February 15, the process of falling can be continued in the direction of the next Fibo level of 100.0% - 1.2671. In the current chart of emerging divergences, none of the indicators have one. Fixing quotations above the level of 76.4% can be interpreted as a reversal in favor of the currency of England and expect some growth in the direction of the correction level of 61.8% - 1.2878.

The Fibo grid was built on extremes from January 15, 2019, and January 25, 2019.

Recommendations to traders:

Purchases of the GBP / USD pair can be made with the target of 1.2878 and a Stop Loss order below the level of 76.4% if the pair closes above 1.2799 (hourly chart).

Sales of the GBP / USD pair can be made with the target of 1.2671 and a Stop Loss order above the level of 76.4% if the pair closes below the level of 1.2765 (4-hour chart).

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