16.01.201908:35 Forex Analysis & Reviews: Forecast for GBP/USD January 16, 2019

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD

The results of the parliamentary vote on the May-EU agreement failed the project - 202 deputies voted in favor, 432 voted against. But, as expected, the EU promptly responded to this event and the first information on the alliance's readiness to postpone the launch of Brexit was held in the second half of June. As a result, the pound sterling for this morning is in the range of Monday. The price is above the Krusenstern line of the daily timeframe, on H4 the price is fixed above both indicator lines. An attempt by the parliamentary opposition to initiate a vote of no confidence in the government is still weak; the market may well work out an upward movement. Further scenarios remain the same: the upward movement is realized after the price leaves the Monday high at 1.2930, then an attempt can be made to test the resistance of the embedded line in the price channel 1.3040, the downward attempt will begin after fixing under the Krusenstern line on the four-hour chart - 1.2795, then it may decrease to yesterday's low days - to support the trend line on the daily. Leaving prices below offers the prospect of reducing to 1.2455.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.