4h
The currency pair GBP / USD on the 4-hour chart fulfilled after returning from the correction level of 200.0% - 1.3047 return to this level of Fibo. A new cut-off from the correction level of 200.0% will again allow us to count on a reversal in favor of the US currency and a slight drop towards the Fibo level of 261.8% - 1.2637. On September 13, there are no divergent divergences. Fixing quotes above the correction level of 200.0% will increase the probability of further growth in the direction of the next level of Fibo 161.8% - 1.3301.
The Fibo grid is built on extremes from March 1, 2018, and April 17, 2018.
1h
On the hourly chart, the currency pair completed the second retreat from the correction level of 76.4% to 1.2982 and the fixation over the Fibo level of 100.0% to 1.3043. As a result, the growth process can be continued today in the direction of the next correction level of 127.2% - 1.3113. Brewing divergences are not visible today. The consolidation of the pair's rate under the Fibo level of 100.0% will work in favor of the US dollar and the beginning of the fall towards the correctional level of 76.4% - 1.2982.
The Fibo grid is built on extremes from August 30, 2018, and September 5, 2018.
Recommendations for traders:
Purchases of the GBP / USD pair can now be carried out for the purpose of 1.3113 and a stop loss order under the correction level of 100.0%, as there was a close above the level of 1.3043 (hourly chart).
Sales of the GBP / USD pair will be possible with the target of 1.2982 and a Stop Loss order above the correction level of 100.0% if the pair completes closing below the Fibo level 1.3043.