On Tuesday, the British pound fell by 71 points under pressure from the dollar (USDX 0.32%) and previous concerns about the ratification of the UK exit from the EU. Looking at the daily chart, the price went under the signal level of the embedded trend line of the price channel in which the target 1.2558 became relevant.
Today, the 2nd estimate of the US GDP for the 3rd quarter is released. The indicator is expected to be revised from 3.5% to 3.6%. Tomorrow, the UK will issue lending data for October, since it is expected to decrease in the volume of loans to individuals from 4.7 billion pounds to 4.5 billion.
On the four-hour chart, the price is fixed below the balance line (red) and Krusenstern line (blue) – the current downward trend.
The material has been provided by InstaForex Company – www.instaforex.com
GBP / USD
On Tuesday, the British pound fell by 71 points under pressure from the dollar (USDX 0.32%) and previous concerns about the ratification of the UK exit from the EU. Looking at the daily chart, the price went under the signal level of the embedded trend line of the price channel in which the target 1.2558 became relevant.
Today, the 2nd estimate of the US GDP for the 3rd quarter is released. The indicator is expected to be revised from 3.5% to 3.6%. Tomorrow, the UK will issue lending data for October, since it is expected to decrease in the volume of loans to individuals from 4.7 billion pounds to 4.5 billion.
On the four-hour chart, the price is fixed below the balance line (red) and Krusenstern line (blue) – the current downward trend.
The material has been provided by InstaForex Company – www.instaforex.com
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