The currency of Great Britain once again appeared on the price "swing". Having risen a little, the pound fell again in the middle of the week but found the strength in itself to turn the tide and move up. Analysts recorded the correctional movement of sterling with a bias in the increase, but not yet overcome the attraction of the bottom.
This week, the pound was in a fever, and only at the auction on Thursday, November 21, this turbulence declined. Yesterday, the GBP / USD pair began its recovery after the fall, which occurred after the television debate between the leaders of the largest parties in the UK - Prime Minister Boris Johnson and the head of the opposition Conservative Party, Jeremy Corbin. According to polls conducted after the debate, the Conservative Party could receive strong support in the upcoming elections.
The positive attitude of the conservatives and the high likelihood of a second referendum provided significant support to the British currency. According to experts, this stopped the pound from further sales. In the course of yesterday's correction, recorded after a two-day recession, the "Briton" confidently went up. GBP / USD rose to the level of 1.2961.
The market did not ignore the upward trend of sterling. According to the observations of some experts, yesterday on the daily chart of the GBP / USD pair a rare reversal pattern formed - a potential "triple top". Its implementation would be possible only after the breakdown of the level of 1.2760, but this did not happen.
The victorious aspirations of the British currency were interrupted. The tandem went down again, plying near the indicators 1.2948–1.2949.
Experts have repeatedly paid attention to the psychologically important level of 1.3000 for the pound. Sterling was one step away from victory, overcoming the attraction of the bottom and actively rushing to this peak. However, the flight of the "Briton" was interrupted, although analysts are sure that yesterday's positive recharge will help him rise. In the event of a rise to 1.3000, the British currency will exceed a six-month high, and then the victory will become a reality.
The pound completes the current week on a minor note. His fuse was almost exhausted, and the bearish mood took over. On Friday morning, November 22, the GBP / USD pair was trading at 1.2927 and then began to move down.
Currently, the tandem runs in the low range of 1.2913–1.2914, again passing through the price "swing". The dynamics of the pound is full of contradictions: ups are replaced by falls, and negative follows the positive, and vice versa. This confuses the market and requires close attention when working with a pair of GBP / USD.
Nevertheless, analysts expect a successful outcome in relation to the pound, which may arise in the near future. The British currency, which at first lost the battle, is able to recover and conquer the next peaks. Experts believe that the further vector of its dynamics will be directed upwards, although they do not exclude slight drops along this path.
