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4h
The currency pair GBP / USD on the 4-hour chart completed the growth to the correctional level of 50.0% - 1.2869. Releasing the pair from this Fibo level will allow traders to expect a reversal in favor of the US dollar and a slight drop in the direction of the correction level of 38.2% - 1.2756. There are no indicators of ripening divergences on January 14th. Closing the pair above the Fibo level of 50.0% will increase the chances of continued growth towards the next correction level of 61.8% - 1.2970.
The Fibo grid is built on extremes from September 20, 2018, and January 3, 2019.
1h
On the hourly chart, the quotes performed the third rebound from the correction level of 76.4% - 1.2725, turning in favor of the British currency and closing above the level of 100.0% - 1.2815. As a result, growth is expected to continue in the direction of the correction level of 127.2% - 1.2916. Bearing divergence is brewing at the CCI indicator. The formation of divergence will allow traders to expect a reversal in favor of the American currency and a return to the correction level of 100.0%.
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 carried out now with a target of 1.2916 and a Stop Loss order below the level of 100.0% since the pair completed the close above 1.2815 (hourly chart) and hold the purchases until a bearish divergence is formed.
Sales of the GBP / USD currency pair can be made with the target at 1.2725 and a Stop Loss order above the level of 100.0% if the pair closes below the level of 1.2815 (hourly chart).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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