Forecast for GBP/USD for January 9, 2019

GBP/USD

Over the past 24 hours, the situation on the pound practically did not change, only the probability of the price passing below the support zone of 1.2690-1.2700, formed by the trend line of the price channel on the daily chart and the Krusenstern indicator line on the four-hour chart, only slightly increased.

Investors' attention, of course, is focused on the upcoming parliamentary voting on the "May Plan" on the 15th. To date, the situation has not improved, until the last moment, May is trying to make changes along the Irish border. It will be difficult to predict how the voting will take place, but we have spoken earlier and now we repeat that a positive outcome will not greatly affect the growth of the British pound. The first reaction of the market will be optimistic, but soon the situation will settle and the pound will go down on the understanding that the transaction does not in itself entail the development of the UK economy. The deal, as certain conditions for the country's withdrawal from the EU, is not a rate increase, not a tax cut, not even preferences in trade, it is at least the same conditions on which the UK functioned in the EU, although of course these are the worst conditions.

At the moment the situation is neutral. In case of fixing the price under the range of 1.2690-1.2700, a further decrease to 1.2472 is possible - the support of the embedded line of the price channel on the daily chart. For growth to 1.3046 it is necessary to fix above the Krusenstern line on a daily (1.2836).

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The material has been provided by InstaForex Company - www.instaforex.com