GBP / USD pair
Yesterday, the British pound rose by 80 points under the influence of a speculative attack on the dollar. The reason was the statement by Fed Chairman Powell about current rates slightly below average levels, and not "far" from average levels, as investors would like to hear. Meanwhile, it became known that Prime Minister Theresa May no longer "hinders" Parliament from moving towards blocking the Brexit deal. Parliamentary factions hastily began to draw up new drafts of the treaty in order to present alternatives until December 11, when the agreement will be voted on. Obviously, nothing good will work in this situation. We are still hoping for the passage of the May version as already approved by the EU) but our confidence is beginning to weaken.
Technically, on the daily timeframe, the pound is completely in a negative and declining position but it is increasing on all parameters on the four-hour chart. The price can work both scales at the same time within acceptable limits, that is, the growth will be limited by the resistance of the balance line on the daily chart around the level of 1.2920, after which the price will turn down. Fixing prices under the indicator lines on H4 will allow today and tomorrow to return to yesterday's low or even below it.
Contributing factors to the implementation of this scenario are data on income and expenditure of consumers in the US in October with the forecast expects growth in both parameters by 0.4%. In other words, we are waiting for the resolution of the situation.
