Expectations from the GBP/USD pair

While the negotiations on Brexit between the UK and the EU reached a deadlock, the GBP/USD pair significantly slowed the uptrend. As a result, the whole movement of October can be called a move in flat with decreasing volatility. But, even in this vein, this pair continues to maintain the upward trend of 2017.

The price remains near the level of 1.3180 (Fibo 23.6 from the maximum of September), thereby retaining some uncertainty between maintaining the corrective movement and returning to growth. The fixing of the price below 1.3180-70 will open the way to support 1.3100. The breakthrough of this level will lead to 1.3030. Otherwise, the resistance levels are 1.3230-50 and 1.3270.

Recommended for reading: https://esterholdings.com/en/2017/10/24/geopoliticheskie-riski/ and https://esterholdings.com/en/2017/10/19/korrektsiya/

Hanzenko Anton