FX.co ★ GBP/USD. 12th of August. Results of the day. The United states enthusiastically support the hard Brexit of Great Britain

4-hour timeframe

Amplitude of the last 5 days (high-low): 86p - 74p - 70p - 88p - 92p.

Average amplitude over the last 5 days: 82p (80p).

The pound continues to tumble down, since there is no positive news about Brexit, and there is no support from macroeconomic statistics either. Global financial institutions have begun to seriously worry about the consequences of a trade war between China and America, but this does not matter much now for the pound sterling. Only Brexit and its consequences are now important for the British currency. But nothing changes on this topic. Boris Johnson continues to drive the locomotive towards the wall with the words "hard Brexit", accuses Labour leader Jeremy Corbyn of wanting to cancel the results of the 2016 referendum and rally Brexit, and the United States is happy to support Boris Johnson's initiatives, as stated by adviser to the US president on national security John Bolton. It should be understood that the United States really benefits from the fastest possible "divorce" between the UK and the European Union. What is better in the hard scenario. The weaker the enemy, the easier it will be to negotiate with it. Brexit should embroil the British and Europeans, which will weaken both of them, and that, of course, is in the hands of the United States. Therefore, America enthusiastically talks about a new trade deal between Washington and London. Boris Johnson has also repeatedly stated that a trade deal with the United States will be very beneficial for the British, but for some reason no one pays attention to the trade conflict with China in this matter, and earlier the trade conflict with the European Union (which was paused for a few months). The whole world has already realized that Donald Trump concludes trade transactions on terms that are beneficial to him, and not to both parties. That is why with China, as with a strong adversary, there is still no trade deal. Great Britain, with its hopes for this agreement, can drive itself into an even bigger crisis.

Trading recommendations:

The pound/dollar currency pair corrected for the Kijun-sen critical line and rebounded from it. Therefore, it is now recommended that the pound be re-sold with the target support level of 1.1980. Buying is still impractical and simply dangerous.

In addition to the technical picture, fundamental data and the time of their release should also be taken into account.

Explanation of the illustration:

Ichimoku indicator:

Tenkan-sen is the red line.

Kijun-sen is the blue line.

Senkou Span A - light brown dotted line.

Senkou Span B - light purple dashed line.

Chikou Span - green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and bar graph with white bars in the indicator window.