Yesterday’s trading range for the British pound with almost 190 points was due to the current strong news in relation to the views between Prime Minister Theresa May and the Cabinet of Ministers under the Brexit agreement. But in the end, the ministers approved the deal and the pound sterling closed the day with an increase of 20 points. Now, the deal must go through parliament. A number of Western media claims that huge problems may arise during this stage. We hold a neutral position. We believe that huge problems won’t happen. In fact, the Brexit issue has been resolved as long as the opposition must complete its game.
The price failed to consolidate above the balance line of the four-hour scale. Only a puncture resistance was shown. However, the Marlin oscillator signal line is going down, which indicates the potential of an uptrend.
On the daily scale chart, the price is clamped between the Krusenstern line and the balance line. The signal line of Marlin oscillator tests the border within the growth zone. From this border, with the absence of positive news, a downward reversal is possible. Today, retail sales data in the US was presented. The September forecast is 0.6%. Perhaps, the data investors will have a re-position within the range of 1.3013 / 71. In the future, the price may decline to support the daily trend line in the area of 1.2786.
The material has been provided by InstaForex Company – www.instaforex.com
GBP / USD
Yesterday’s trading range for the British pound with almost 190 points was due to the current strong news in relation to the views between Prime Minister Theresa May and the Cabinet of Ministers under the Brexit agreement. But in the end, the ministers approved the deal and the pound sterling closed the day with an increase of 20 points. Now, the deal must go through parliament. A number of Western media claims that huge problems may arise during this stage. We hold a neutral position. We believe that huge problems won’t happen. In fact, the Brexit issue has been resolved as long as the opposition must complete its game.
The price failed to consolidate above the balance line of the four-hour scale. Only a puncture resistance was shown. However, the Marlin oscillator signal line is going down, which indicates the potential of an uptrend.
On the daily scale chart, the price is clamped between the Krusenstern line and the balance line. The signal line of Marlin oscillator tests the border within the growth zone. From this border, with the absence of positive news, a downward reversal is possible. Today, retail sales data in the US was presented. The September forecast is 0.6%. Perhaps, the data investors will have a re-position within the range of 1.3013 / 71. In the future, the price may decline to support the daily trend line in the area of 1.2786.
The material has been provided by InstaForex Company – www.instaforex.com
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