Analysis of the divergence of GBP / USD for March 11. The pound is preparing to break off the level of 1.2970

4h

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The pair GBP / USD on the 4-hour chart performed a fall to the correction level of 61.8% - 1.2969. Quoting quotes from this level will allow traders to count on a turn in favor of the British currency and some growth in the direction of the Fibo level of 76.4% - 1.3094. Closing the pair on March 11, below the level of 61.8%, will increase the chances of continuing falling towards the next correction level of 50.0% - 1.2869. There is no indicator of the emerging divergences today.

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 pair completed under the correction level of 61.8% - 1.2993. As a result, the process of falling quotations can be continued in the direction of the next Fibo level of 76.4% - 1.2910. The closing of the pair above the correction level of 61.8% can be interpreted as a reversal in favor of the pound sterling and some growth in the direction of the correction level of 50.0% - 1.3062 is expected. Maturing divergences are not visible on the current chart.

The Fibo grid is built on extremes from February 14, 2019, and February 27, 2019.

Recommendations to traders:

Purchases of the GBP / USD pair can be made with the target of 1.3062 and a Stop Loss order below the level of 61.8% if the pair closes above 1.2993 (hourly chart).

Sales of the GBP / USD pair can be carried out with a target of 1.2910 and a Stop Loss order above the level of 61.8% if the pair closes below the level of 1.2969 (4-hour chart).

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