4h
On the 4-hour chart, the GBP / USD currency pair made a sharp reversal in favor of the American currency and the closure under the Fibo level of 76.4% - 1.2812 on the new Fibonacci grid. Thus, today the fall in quotations can be continued in the direction of the next correction level of 100.0% - 1.2662. Rebounding quotes from the Fibo level of 100.0% will allow traders to expect a reversal in favor of the British currency and some growth. Closing the pair above the correction level of 76.4% will similarly work in favor of the beginning of the pair's growth.The Fibo grid was built according to extremums of August 15, 2018, and September 20, 2018.1h
On the hourly chart, the currency pair performed a strong fall and returned to the correctional level of 76.4% - 1.2809. The ripening divergences on November 16 are not observed in any indicator. Rebounding the pair's rate from the Fibo level of 76.4% will make it possible to expect a reversal in favor of the US currency and a resumption of fall in the direction of the correction level of 100.0% - 1.2696. Closing quotations above the Fibo level of 76.4% will make it possible to expect continued growth in the direction of the next correction level of 61.8% - 1.2878.The Fib net 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 with the target of 1.2878 and a Stop Loss order under the correction level of 76.4% if the pair closes above 1.2809 (hourly chart).Selling of the currency pair GBP / USD will be possible with the goal of 1.2696 and a Stop Loss order above the level of 76.4% if the pair bounces off the level of 1.2809 (hourly chart).
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