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01.03.201908:59 Forex Analysis & Reviews: Analysis of GBP / USD Divergences for March 1. The level of 1.3300 was an insurmountable obstacle.

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

4h

Exchange Rates 01.03.2019 analysis

The GBP / USD pair on the 4-hour chart completed growth to the correction level of 100.0% - 1.3300 and a turn around it in favor of the American dollar. As a result, on March 1, the fall process can be continued in the direction of the Fibo level of 76.4% - 1.3090. There is no indicator of the emerging divergences today. Fixing a pair of quotes above the correction level of 100.0% can be interpreted as a reversal in favor of the British currency and we expect a resumption of growth in the direction of the correctional level of 127.2% - 1.3530.

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

1h

Exchange Rates 01.03.2019 analysis

On the hourly chart, after the pair rebounds from the Fibo level of 127.2% - 1.337 and the formation of a bearish divergence at the MACD indicator. The process of falling continues in the direction of the correction level of 100.0% - 1.3217. Rebounding the pair from this level will allow us to expect a reversal in favor of the British currency and the resumption of growth in the direction of the correction level of 127.2%. Closing the pair below the 100.0% level will work in favor of continuing the fall towards the next Fibo level of 76.4% - 1.3111.

The Fibo grid is built on extremes from January 25, 2019, and February 14, 2019.

Recommendations to traders:

Purchases of the GBP / USD pair can be made with the target of 1.3337 and a Stop Loss order under the level of 100.0% if the pair bounces off the level of 1.3217 (hourly chart).

Sales of the GBP / USD pair can be carried out now with the target of 1.3217 and a Stop Loss order above the level of 127.2% since the pair has completed the rebound from the level of 1.3337 (hourly chart).

Samir Klishi
Analytical expert of InstaForex
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