The British pound is stable
The British pound maintains stability against the US dollar, despite decrease in industrial orders in the UK. According to the published data, the industrial trends orders (CBI) in October was -2, against September values at level 7. This dynamics of the GBP/USD pair is related to general sentiment of the market and stabilization of positions on the US dollar based on the lack of significant catalysts in the course of trading on Monday.
Technical analysis: During the European session, the pair GBP/USD lost all earned positions in the course of Asian trade, while practically completely having fulfilled my Friday recommendation. Learn More…
Today, I expect further price movement in flat between the levels of 23.6 and 50.0 by Fibonacci on H1, which correspond to the values of 1.3144 and 1.3210 respectively.
The main recommendations: For GBP/USD pair, one should consider buying in the area 1.3144-1.3130; selling in the area of 1.3210-1.3225.
Fig. Current price GBP/USD – 1.3172
Alexander Sivtsov