UK may remain in the EU
The UK may refuse to exit from the EU if the parties fail to agree on Brexit. Will the British pound rise?
Foreign Secretary Jeremy Hunt said that the UK might remain in the European Union. Brexit was scheduled to take place on March 29, 2019. On January 15, a vote will be held in the British Parliament and during the vote, the plan of Prime Minister Theresa May on the terms of the country's withdrawal from the European Union is to be approved. Data on inflation for December, which may also affect the dynamics of the pound will be published on January 16 in the UK.
On the daily timeframe, GBPUSD: D1 is in a downtrend, but the decline has slowed down and a number of technical analysis indicators have formed buy signals. The further price increase is possible in case of the transfer of Brexit and publication of positive macroeconomic indicators in the UK.
Summary of technical analysis
Position Buy
Buy stop Above 1.284
Stop loss Below 1.24
The UK may refuse to exit from the EU if the parties fail to agree on Brexit. Will the British pound rise?
Foreign Secretary Jeremy Hunt said that the UK might remain in the European Union. Brexit was scheduled to take place on March 29, 2019. On January 15, a vote will be held in the British Parliament and during the vote, the plan of Prime Minister Theresa May on the terms of the country's withdrawal from the European Union is to be approved. Data on inflation for December, which may also affect the dynamics of the pound will be published on January 16 in the UK.
On the daily timeframe, GBPUSD: D1 is in a downtrend, but the decline has slowed down and a number of technical analysis indicators have formed buy signals. The further price increase is possible in case of the transfer of Brexit and publication of positive macroeconomic indicators in the UK.
- The Parabolic indicator gives a bullish signal.
- The Bollinger bands have narrowed, which indicates low volatility.
- The RSI indicator is above 50. It has formed a double positive divergence.
- The MACD indicator gives a bullish signal.
Summary of technical analysis
Position Buy
Buy stop Above 1.284
Stop loss Below 1.24