FX.co ★ GBP / USD Forecast for November 21, 2018

GBP / USD

On Tuesday, the Conservative Party's vote on the vote of confidence to Theresa May did not take place due to the refusal of several functionaries to present official letters of no confidence. The step is quite understandable in the run-up to a key EU summit. As we expected, the pound got off with a "slight fright" having lost 68 points in one day.

Today, the trading session opened below the trend line of the price channel on the daily chart (1.2790). which is a traditional sign of the continuation of the trend. On a four-hour scale, the price intensified the decline below the indicator lines. The Marlin oscillator shifts to a downward trend (the signal line goes into the zone of negative numbers). The downward target 1.2570 is opened - support for the nested line in the daily scale price channel.