The British pound lost 104 points on Monday on rumors about the possible resignation of Prime Minister Theresa May. On the daily chart, the price fixed under the red indicator line of balance, which markedly shifted the emphasis to a further decrease in the trend. But to reduce at least to the support of the price channel line (1.2848), it is necessary to overcome the important support of the Kruzenshtern trend line at 1.2934. Before this condition, a correction to the level of 1.3042 is possible, the maximum on August 30. The possibility of such a correction is suggested by the price convergence with the Marlin indicator on the four-hour chart.
The material has been provided by InstaForex Company – www.instaforex.com
GBP / USD
The British pound lost 104 points on Monday on rumors about the possible resignation of Prime Minister Theresa May. On the daily chart, the price fixed under the red indicator line of balance, which markedly shifted the emphasis to a further decrease in the trend. But to reduce at least to the support of the price channel line (1.2848), it is necessary to overcome the important support of the Kruzenshtern trend line at 1.2934. Before this condition, a correction to the level of 1.3042 is possible, the maximum on August 30. The possibility of such a correction is suggested by the price convergence with the Marlin indicator on the four-hour chart.
The material has been provided by InstaForex Company – www.instaforex.com
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