The GBP / USD pair is also drawn up in the belief that at least in the coming days' British politicians can not inflict even more on the topic of Brexit. The leader of the opposition Labor Party Jeremy Corbyn threatened Prime Minister May with a parliamentary vote of no confidence (for postponing the vote on the draft agreement with the EU), which would however only have demonstrative meaning, as there would be no threat of accelerated elections (no vote would be only for the prime minister and not the government). With the rest, with May's declared support from the Brexit party from her own party, Corbyn withdrew from a poor attempt to break down political capital. The vote on the Brexit agreement is scheduled for mid-January, but we still do not know which way things will go in the coming days, given that May does not have enough support for its (and the only acceptable by the EU) brexit vision.
Let's now take a look at the GBP/USD technical picture at the H4 time frame. The market has retraced 61% of the previous swing down and the price has hit the level of 1.2700 on its way up. Nevertheless, the price has been pushed lower towards the nearest technical support at the level of 1.2615 and so far is trading above this level. The momentum is still positive and strong, but recently it started to point to the downside, so the correction might extend in time a little and go even deepr, towards the level of 1.2586. The key technical resistance is the zone between the levels of 1.2795 - 1.2839.
