Daily
The rate has consolidated above the level of correction 23.6% - 1.6094 of Fibonacci. It enables the pair to continue rising towards the level of correction 0.0% - 1.6307 of Fibonacci. No new divergences are observed. The consolidation of the rate under the level of Fibonacci 23.6% allows the pair to swing towards the US dollar and start falling to the level of correction 38.2% - 1.5964. All the indicators regard the growth of the quotes except for Stochastic. However, the rate is above the level of Fibonacci 23.6%. Thus, there is chance of pair’s growing.
4h
The GBP/USD pair has turned in favour of the British pound and rebounded from the level of correction 23.6% - 1.6119. As a result the rise of the quotes may extend towards the next level of correction 0.0% - 1.6309. The consolidation of the rate under the level of correction assumes the rate to swing towards US dollar and start falling to the level of correction 38.2% - 1.5998 of Fibonacci. MACD and Stochastic are about to produce divergence. The current high of the price is higher than the previous one. On the contrary, similar highs of the indicators are lower than the previous ones. If it continues to be the same, then a bearish divergence will be formed. It provides a chance of the swing towards the US dollar.