18.03.201914:03 Forex Analysis & Reviews: GBP / USD. March 18. The trading system. "Regression Channels". Theresa May wants to hold another vote on the "deal" with the EU

4-hour timeframe

Technical details:

The senior linear regression channel: direction - up.

The younger linear regression channel: direction - up.

Moving average (20; smoothed) - up.

CCI: 76.2973

The currency pair GBP / USD has returned to Murray's level of "6/8" - 1.3306. And the UK is full of rumors about the situation on Brexit. Theresa May appointed a new vote on her version of the agreement with the EU on March 19 and has already managed to announce that this vote may not take place unless preliminary due support is received from parliamentarians. Why do we need this vote, if the draft agreement is not changed and the Parliament has already decided to postpone Brexit for at least two months? Everything looks as if Theresa May is going to negotiate not with the EU, but with parliamentarians, offering them certain conditions if they support her project. According to unverified information (which the pound sterling is so fond of), the conservatives offered May an agreement under which they support her on the next ballot, and she resigns ahead of schedule. If this is true, it is still not clear whether there are enough votes of conservatives who have changed their decision to win. In general, interesting information comes from the UK almost every day, and the British currency reacts positively to it (as a whole), despite the fact that the country hasn't come close to signing an agreement with the EU. From a technical point of view, the pair cannot yet confidently overcome the Murray level of "6/8", which hinders it from further strengthening.

Nearest support levels:

S1 - 1.3245

S2 - 1.3184

S3 - 1.3123

Nearest resistance levels:

R1 - 1.3306

R2 - 1.3367

R3 - 1.3428

Trading recommendations:

The pair GBP / USD has resumed its upward movement, but Murray's level of "6/8" cannot yet overcome. Therefore, a new round of downward correction is possible. If this level is overcome, long positions with targets at 1.3367 and 1.3428 will be relevant again.

It is recommended to open a sell position if the bears re-consolidate the pair below the moving average. In this case, the trend in the instrument will change again to downward and short positions with targets at 1.3123 and 1.3062 will become relevant.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of the unidirectional movement.

The junior linear channel is the purple lines of the unidirectional movement.

CCI is the blue line in the indicator regression window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heikin Ashi is an indicator that colors bars in blue or purple.