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What will really surprise everyone is Boris Johnson's defeat in the election of the head of the Conservative Party of Great Britain. It seems that no one believes in such an outcome. This is not surprising, since it offers the option of the earliest completion of an epic called Brexit. True, this implies a divorce from the European Union without any agreements, since, from the point of view of Boris Johnson, they do not sufficiently meet the interests of Great Britain. Well, this is nothing more than an unregulated Brexit, with its unpredictable consequences for the economy of the whole continent. So as soon as the results of the voting become known, the pound will be under severe pressure. The truth is if it does not happen and Boris Johnson is not destined. Then in this case, you should seriously consider buying the pound.
After the V-shaped correction, GBP/USD resumed its descending move once again, moving closer with a reference point of 1.2430, which previously held the quote. It is likely to assume that in case of inertia running and consolidation lower than 1.2430, we will be pulled towards a local low of 1.2381, the current point of the two-year low. From the point of view of a comprehensive indicator analysis, there is a counter-confirmation of a further downward course, which confirms the above stated judgment.
Positions for selling are already activated, if there aren't any deals, then it makes sense to wait for a fix lower than 1.2430 to enter the inertial course.
It is worth considering such a moment that today there is a strong information background, where, in the event of a dramatic change, in terms of the election results in Britain, sharp jumps can occur. For this reason, traders are concentrating on the candles at the time of the results' announcement, and in case Boris Johnson loses, we can see the opposite picture in the form of a jump to the upside, which will appear in the form of an impulse of the progress: 1.2500 --- 1.2550.
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