Analysis of the past day

On Wednesday, November 29, trading in the foreign exchange market was very volatile, maintaining optimism on positive statistics on the United States and the overall strengthening of the British pound, which receives support from the results of negotiations on Brexit.

As a result, the dollar index strengthened to a significant resistance level of 93.400, the upper limit of the downward channel. Despite the publication of positive data on the US, general risks regarding the tax reform and the new Fed president persist. The three-day upward movement on the US dollar index remains more corrective. And there is a high share of the probability of the resumption of the downward trend for the American.

The US dollar index. Current price – 93.200.

Regarding the British pound, the market is very optimistic. The GBP/USD pair is limited by significant resistance levels: 1.3400, 1.3460 and 1.3500, which meet the 2009 minimum and the upper limit of the global downtrend. Also, do not forget about the significant overbought of the pound and the volatility of the results of negotiations.

GBP/USD H4, current price – 1.3400.

Hanzenko Anton