On Monday, British Prime Minister Theresa May canceled the parliamentary vote on the draft with the EU to withdraw the country from the bloc. She also promised to revise some of the provisions of the agreement that were most dissatisfied with parliamentarians. Formally, the news is positive, as it provides an opportunity to improve the conditions of a “divorce”, but there is a risk that the EU will not agree to further “improvements” in the conditions. As a result, the pound has fallen 170 points.
The stop of the movement occurred on the trend line of the price channel. Now, to continue to reduce the price, you need to gain a foothold under it (1.2543). We are waiting for such price fixing under the signal level and a further decline of the pound sterling to 1.2400 and further to 1.2300 (November 2016 low). The signal line of the Marlin oscillator on the daily chart turned down from the border with the territory of growth – this is an independent signal of the medium-term decline.
The material has been provided by InstaForex Company – www.instaforex.com
GBP / USD
On Monday, British Prime Minister Theresa May canceled the parliamentary vote on the draft with the EU to withdraw the country from the bloc. She also promised to revise some of the provisions of the agreement that were most dissatisfied with parliamentarians. Formally, the news is positive, as it provides an opportunity to improve the conditions of a “divorce”, but there is a risk that the EU will not agree to further “improvements” in the conditions. As a result, the pound has fallen 170 points.
The stop of the movement occurred on the trend line of the price channel. Now, to continue to reduce the price, you need to gain a foothold under it (1.2543). We are waiting for such price fixing under the signal level and a further decline of the pound sterling to 1.2400 and further to 1.2300 (November 2016 low). The signal line of the Marlin oscillator on the daily chart turned down from the border with the territory of growth – this is an independent signal of the medium-term decline.
The material has been provided by InstaForex Company – www.instaforex.com
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