4-hour timeframe
Technical details:
The senior linear regression channel: direction - up.
The junior linear regression channel: direction - sideways.
Moving average (20; smoothed) - sideways.
CCI: 0.3330
The currency pair GBP / USD on Wednesday, February 13, began to be adjusted and has almost completed the MA. Yesterday's speech by Mark Carney, the head of the Bank of England, in London was not very significant. He said that the exit of Great Britain from the EU would become a "litmus test" for the state of world trade. Carney also said that Brexit would be a shock for the UK without agreement. Thus, Carney once again tried to explain to both politicians and society that Brexit should be avoided by all means without a "deal", although, in principle, this is so clear to everyone. Theresa May continues to hope to negotiate with European leaders and asks Parliament to postpone voting until the end of February. Parliament does not seem to mind going to the Prime Minister's meeting, but fears that Theresa May will delay the moment of voting at the end of May in this way and then the parliamentarians will face an impartial choice: either withdrawing from the EU without a "deal", does not change, since the EU does not want to enter into new negotiations. Today in the UK, the consumer price index is scheduled to be published. This figure is also expected to slow down to 1.9%. In general, if the euro has chances of growth, the British pound remains in a downward trend.
Nearest support levels:
S1 - 1.2878
S2 - 1,2817
S3 - 1.2756
Nearest resistance levels:
R1 - 1.2939
R2 - 1.3000
R3 - 1.3062
Trading recommendations:
The currency pair GBP / USD began to be adjusted. Thus, to open new short positions, it is recommended to wait for the Heikin Ashi indicator to turn down with the target of 1.2817.
Buy positions are recommended to be opened after fixing the price above the MA with targets of 1.3000 and 1.3062. There is still no fundamental basis for strengthening the British currency.
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 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.
