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4-hour timeframe
Technical details:
The senior linear regression channel: direction - sideways.
The younger linear regression channel: direction - up.
Moving average (20; smoothed) - up.
CCI: -61.2264
The currency pair GBP / USD on Friday, February 1, once again adjusted to the moving average line, but still cannot go below it. Very strange, as the clouds over the UK are beginning to thicken again. After all the amendments adopted by the British Parliament, Theresa May has no choice but to go on a new tour in Europe and try to negotiate with her leaders to make new concessions, which naturally relate to the Northern Irish border and the so-called back-stop. At the same time, the head of the European Commission, Jean-Claude Juncker, and the President of the European Council, Donald Tusk, have already noted that the agreement is not subject to revision, and the current version of Brexit is the best that the EU can offer the UK. Until Brexit remains about 2 months, and it remains unclear how Theresa May is going to bring together the desires of the parliament or leaders of the EU. Although an amendment was also adopted that does not allow Brexit to be postponed to a later date, according to many experts, Brexit will still have to be postponed, and both sides are waiting for new long negotiations, since no one wants a "tough" Brexit. Today in the UK, data on index of business activity in the production sector Markit will be published, but the main attention of traders, of course, will be focused on the package of macroeconomic news from the States, in which there is an extremely important NonFarm Payrolls.
Nearest support levels:
S1 - 1.3062
S2 - 1.3000
S3 - 1.2939
Nearest resistance levels:
R1 - 1.3123
R2 - 1.3184
R3 - 1.3245
Trading recommendations:
The currency pair GBP / USD has started a new round of correction. Thus, to open buy orders, you should wait for the Heikin Ashi indicator to turn up when the price is above the moving average. The target is 1.3184.
Sell orders are recommended to open when the pair closes below the moving average line with the first target of 1.3000. In this case, the tool can proceed to the formation of a new downtrend.
In addition to the technical picture should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The senior linear regression channel is the blue lines of the unidirectional movement.
The junior linear channel is the purple lines of the unidirectional movement.
CCI is the blue line in the indicator regression window.
The moving average (20; smoothed) is the blue line on the price chart.
Murray levels - multi-colored horizontal stripes.
Heikin Ashi is an indicator that colors bars in blue or purple.
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