GBP/USD Daily Analysis 27-11-2018

British Prime Minister Theresa Mae and British Prime Minister Herce Mae, in a speech to the British parliament, The European Union signed an exit agreement on Sunday.

At 5:38 am GMT the GBPUSD pair rose 0.03% to 1.2816, compared to the opening levels at 1.2797

British Prime Minister Teresa Mae said that the British people voted to stop freedom of movement within the United Kingdom and that a specific migration regime would be put in place, adding that the sovereignty of Gibraltar would not be affected and that we were proud to belong to the United Kingdom. On the island of Gibraltar, with the knowledge that under the current agreement, the Kingdom will decide who has the right to fish within its territorial waters.

She said that the United Kingdom respects its financial obligations and there is a time frame for the payment of our commitments during the transitional period, adding that the political declaration clarifies what the future relations with the EU will be and shows that its government will not be able to sign a trade agreement until after the formal exit from the European Union To all members of the British Parliament taking into account the interests of the United Kingdom before the vote.

Technical Analysis:

GBPUSD is back at 1.2800 in an attempt to break it, noting that Stochastic is offering a negative cross signal and is approaching trading in the oversold area, and that the moving averages are breaching a resistance barrier above the price. Waiting for price action to breach the mentioned level to enhance opportunities to target 1.2636, which is our next major stop.

From here, we continue to push the bearish trend in the coming sessions unless the 1.2962 level is breached and stability above it.

The trading range for today is expected among 1.2700 support and 1.2900 resistance.

Support and resistance:

Support: 1.2797-1.2744-1.2696

Resistance: 1.2754-1.2900-1.2975

The general trend for today is bearish

Author: Maher Maarouf