FX.co ★ GBP / USD Forecast for November 12, 2018

GBP / USD

On Friday, the British pound fell by 89 points focusing on supporting the Krusenstern trend line on the daily and H4 charts simultaneously. This morning, the opening of the market happened with a gap of 55 points. Now, the price needs to be closed and then move to target 1.2802 - support for the nested line in the price channel. The signal line of the Marlin oscillator on the daily scale turned into the negative zone on both scales completely in which "bearish" moods were formed.

Next week is the most important in the issue of Brexit. Tomorrow, the Brexit Raab and Barnier negotiators present the Brexit agreement. The agreement must be passed to the approval of the Prime Minister and the Parliament the next day in order to sign it at the EU summit next week. The slightest inconsistency will lead to the cancellation or the transfer of the summit.

We are waiting for the completion of consolidation with the closure of the price gap and the decline towards the target 1.2802.