12.02.201908:57 Forex Analysis & Reviews: Analysis of the divergence of GBP / USD for February 12. Two divergences could push the pound slightly up

4h

The currency pair GBP / USD on the 4-hour chart completed closing below the correction level of 50.0% - 1.2869. As a result, the process of falling quotations can be continued on February 12 in the direction of the correctional level of 38.2% - 1.2765. The bullish divergence of the MACD indicator is brewing. The last low of the quotes is already lower than the previous one, unlike the low of the indicator. The formation of a bullish divergence will work in favor of the pound sterling and the beginning of the pair's growth. Fixing quotes above the Fibo level of 50.0% will similarly allow counting on some growth in the direction of the correction level of 61.8% - 1.2969.

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

1h

On the hourly chart, the pair fixed below the Fibo level of 61.8% - 1.2878 and can continue the process of falling in the direction of the correction level of 76.4% - 1.2799. The new bullish divergence at the CCI indicator, however, allows you to count at least on a return to the Fibo level of 61.8%. Closing the pair above this level will allow traders to expect further growth in the direction of the correction level of 50.0% - 1.2943.

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 a target of 1.2943 and a Stop Loss order below the level of 61.8% if the pair closes above 1.2878 (hourly chart), especially in conjunction with bullish divergence on any chart.

Sales of the GBP / USD pair can be made with the target of 1.2799 and a Stop Loss order above the level of 61.8% if the pair completes the last low divergence (hourly chart) or hangs back from the Fibo level of 61.8%.