GBP / USD pair
On Friday, on a positive account this time, rumors about Brexit helped the British pound to grow by 52 points. As reported, British Prime Minister Theresa May is ready to make concessions to the EU in order to conclude a trade agreement. Actually, the dollar became cheaper throughout the market against the background of profit-taking as the USD index fell by 0.33%.
Technically, the price went above the balance line on the daily timeframe and will also try to test the indicator resistance of a smaller scale for durability. The balance lines and MACD indicator on the 4-hour chart ranges around 1.3105 / 35. These levels correspond to correction levels of 38.2% and 50.0% of the descending part of October 12-18.
On Wednesday, good data are expected on the American economy. The October Services PMI may grow from 53.5 to 54.1 and September sales of new homes may also increase from 629 thousand to 630 thousand. Perhaps, the correction will be completed on that day. In the Brexit line, positive and negative rumors alternate, while the fact remains that postponement of the negotiations to a later time.
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