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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: 59.1530
The GBP / USD currency pair adjusted to the moving average, bounced off it and resumed its upward movement. Thus, the British pound sterling still holds its position and is not inferior to the US dollar. In the meantime, it became known that there would be no third vote on the Theresa May agreement in parliament. This was announced by the speaker of the House of Commons, John Bercow. He also said that the parliament could not vote for the third time in a row for, in fact, the same proposal. Thus, Theresa May's next attempt to "push through" her Brexit plan ended in failure, and everyone is getting used to it. Thus, now Theresa May can only wait for the EU's decision regarding her request to postpone Brexit for several months. And we can only ask ourselves the question: what will these few months give if the EU refuses new negotiations? It seems that many people ask themselves a similar question, in particular, the French Minister for European Affairs, Nathalie Loiseau, who said that she called her cat Brexit. According to her, he is just as indecisive and does not want to go out when the door is opened to him. Thus, the process Brexit becomes the object of ridicule. Today in the UK, important reports on unemployment, the number of applications for unemployment benefits and on the change in average wages will be published. The forecasts are neutral, but it will not come as a surprise to anyone if the real values of the reports are worse.
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" still remains an insurmountable obstacle. If this level is overcome, long positions will be relevant to the targets of 1.3367 and 1.3428.
It is recommended to open short positions in case the pair can overcome the moving average line. In this case, the trend in the instrument will change to down again 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.
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