GBP / USD
Yesterday, the British Parliament voted against the transfer of the Brexit date, if an agreement with the EU is not reached. The deadline for this transaction is February 26th. The price reduction stopped at the support at the point where the Krusenstern lines coincide with the balance on the four-hour scale.To further reduce the price, it is necessary to overcome this support and drop below the trend line of the price channel on the daily chart (1.3014), that is, to decline further by more than 90 points from the current level. In general, uncertainty persists. Return of the price to 1.3174-1.3216 is possible. Today, new talks between Prime Minister May and Brussels begin. The arrival of optimistic news is possible and a stronger growth.
The technical range 1.3093 (current level) -1.3014 can also be viewed as investor freedom of action in the event of the Fed's decision today to keep current monetary policy unchanged. The case primarily concerns the rate of reduction of the Fed balance. Perhaps, the financial policies because of the shutdown which will sustain some kind of pause.
The material has been provided by InstaForex Company - www.instaforex.com