4h
The new bearish divergence allowed the pair GBP / USD to turn in favor of the US currency and begin a decline in the direction of the correction level of 100.0% - 1.2707. Bearish divergence in the CCI indicator: The last peak of quotations turned out to be lower than the previous one, which does not correspond to the last peak of the indicator. Passing the last peak of the divergence will allow traders to count on the resumption of the growth process in the direction of the Fibo level of 161.8% - 1.3076 and will cancel the divergence. Decrease of quotations from the correction level of 100.0% will similarly work in favor of the pound sterling.
Daily
On the 24-hour chart, after the formation of the bearish divergence, the decline continues to the corrective level of 200.0% - 1.2653. Bearish divergence in the CCI indicator: The last peak of the quotation was slightly lower than the previous one, which does not correspond to the indicator peaks. On July 10, there are no new maturing divergences in any indicator. Passage of the last peak of the divergence will work in favor of the British currency and the resumption of growth in the direction of the correction level of 161.8% - 1.3105.
The material has been provided by InstaForex Company - www.instaforex.com
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