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Technical data:
The senior channel of linear regression: direction - down.
The younger channel of linear regression: direction - down.
Moving average (20, smoothed) - down.
CCI: -122.6491
The currency pair GBP / USD on August 8, as if nothing had happened, continued its downward movement. It's hard to say whether the next drop in the pound sterling was influenced by the information that Theresa May plans to drag out the Brexit negotiation process by the end of November, hoping that US leader Donald Trump will continue to pressure the G20 summit, which at that time, the EU will be more concerned with Brexit. British currency, in principle, and without this information continued to fall, and traders did not have the strength and desire even for a minimal correction. Nevertheless, this kind of information requires analysis and attention. On the one hand, it becomes clear that it is becoming increasingly difficult for the British Prime Minister to negotiate with the European Union, and its falling ratings and the growing number of people dissatisfied with the negotiation of Brexit do not give it the opportunity for any maneuvers or concessions to the EU. On the other hand, does Theresa May really think that in the matter of Brexit, Donald Trump will come to her aid, who just recently wanted to break off any trade relations with Great Britain and only after a visit to London favorably decided to postpone such a decision? Honestly, if this information is true (source in the British Parliament), then this further reduces the faith in Theresa May's ability to achieve the set goals. This is especially true for Brexit. And, as you can see, the pound did not receive any support anyway.
Nearest support levels:
S1 - 1.2878
S2 = 1.2817
Nearest resistance levels:
R1 = 1.2939
R2 1.3000
R3 = 1.3062
Trading recommendations:
The GBP / USD currency pair worked at the level of 1.2878, but no correction started. Thus, while the indicator of Heikin Ashi did not turn up, the short positions remain relevant with the aim of Murray's last level of 1.2817.
Long positions is recommended to consider not earlier fixing the price above the moving, which again is unlikely to happen today. Nevertheless, it is recommended to open the buy-position with a target of 1.3062, if such consolidation happens.
In addition to the technical picture, one should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The upper channel of linear regression is the blue lines of unidirectional motion.
The junior channel is linear-violet lines of unidirectional motion.
CCI - the blue line in the regression window of the indicator.
Moving average (20; smoothed) - the blue line on the price chart.
Levels of Murray - multi-colored horizontal stripes.
Heikin Ashi is an indicator that color bars in blue or purple.
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