Analysis of the GBP / USD divergence for March 26. Consolidation of the pair near the level of 1.3200

4h

As seen on the 4-hour chart, the GBP/USD pair completed the passage of the last bearish divergence peak. Thus, the growth of quotations can be continued today in the direction of the retracement level of 100.0% (1.3300). Rebounding the course of the pair from this level will again allow us expecting a reversal in favor of the American currency and a slight drop in the direction of the retracement level of 76.4% (1.3094). Closing the pair above the Fibo level of 100.0% will increase the chances for further growth in the direction of the next retracement level of 127.2% (1.3534).

The Fibo grid is built on the ground of extremums from September 20, 2018, and January 3, 2019.

1h

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As seen on the hourly chart, the pair rebounded several times from the Fibo level of 50.0% (1.3171), then rebound from the retracement level of 38.2% (1.3220) and a decrease back to the level of 50.0%. The new release of quotes on March 26 from the Fibo level of 50.0% will again work in favor of the British currency and some growth in the direction of the retracement level of 38.2%. Fixing the rate below the Fibo level of 50.0% will make it possible to expect a continuation of a fall in the direction of the next retracement level of 61.8% (1.3121).

The Fibo grid is built on the grounds of the extremums from March 11, 2019, and March 13, 2019.

Trading advice:

Buy deals on GBP/USD pair can be opened with targets at 1.3220 and 1.3281 and a stop loss order under the level of 50.0% if the pair completes another hang-up from the level of 1.3171 (hourly chart).

Sell deals on GBP/USD pair can be opened with the target at 1.3121 and a stop loss order above the level of 50.0% if the pair closes below the retracement level of 1.317 1 (hourly chart).

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

Source:: Analysis of the GBP / USD divergence for March 26. Consolidation of the pair near the level of 1.3200

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