FX.co ★ Forecast for GBP/USD on October 23, 2019

GBP/USD

Yesterday, the British Parliament, to the great satisfaction of Boris Johnson, voted for his plan with the EU, but also decided to postpone Brexit. This postponement should be approved by the EU, but for now, according to Johnson, the government is working to leave the bloc without a deal. Apparently, the EU will approve the postponement, but in this case, re-election of Parliament will be held in the UK. The pound lost 87 points.

The immediate goal of the decline now becomes the Fibonacci level of 123.6% at the price of 1.2744. Consolidation below the level opens the prospect to the Fibonacci level of 161.8% at the price of 1.2548.

On the four-hour chart, the 1.2744 level corresponds to the price drift below the MACD line. Consolidation under it opens the way to 1.2548.