The British Pound continues to make efforts to reach any significant level before the parliamentary vote on an agreement with the EU. The situation on this issue remains negative but parliamentarians are not going to make concessions. Still, it’s not without the help of the dollar, which yesterday lost ground due to the Fed’s change in monetary policy towards a sharp slowdown in the rate of rate hike. The pound in high volumes grew by 72 points with the immediate goal of 1.2835 on the MACD indicator resistance trend line. Then, another growth spurt could follow to 1.2921, which was the minimum of October 4. In case that it turns out to be successfully overcome and most importantly if time will allow (voting in the parliament on the 15th),the growth to 1.3046 may follow.
On the four-hour chart, there is a sign of price divergence with the Marlin oscillator. Reducing the price under the MACD line of 1.2720 will allow the price to gather strength to break through support on the 1.2690 daily chart.
The material has been provided by InstaForex Company – www.instaforex.com
GBP / USD pair
The British Pound continues to make efforts to reach any significant level before the parliamentary vote on an agreement with the EU. The situation on this issue remains negative but parliamentarians are not going to make concessions. Still, it’s not without the help of the dollar, which yesterday lost ground due to the Fed’s change in monetary policy towards a sharp slowdown in the rate of rate hike. The pound in high volumes grew by 72 points with the immediate goal of 1.2835 on the MACD indicator resistance trend line. Then, another growth spurt could follow to 1.2921, which was the minimum of October 4. In case that it turns out to be successfully overcome and most importantly if time will allow (voting in the parliament on the 15th),the growth to 1.3046 may follow.
On the four-hour chart, there is a sign of price divergence with the Marlin oscillator. Reducing the price under the MACD line of 1.2720 will allow the price to gather strength to break through support on the 1.2690 daily chart.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: