4 hour timeframe
The amplitude of the last 5 days (high-low): 140p - 137p - 75p - 131p - 135p.
Average amplitude for the last 5 days: 124p (128p).
The British sterling pound on Monday, April 8th, showed nothing extraordinary but only slight correction. In the meantime, Theresa May is going to meet tomorrow with Emmanuel Macron and Angela Merkel to discuss a possible Brexit postponement until June 30 but not all EU countries support such an initiative. For example, Austrian Chancellor Sebastian Kurz believes that "there is no reason for extending the UK exit from the EU." If all 27 countries do not approve the request of May, then Brexit will take place in 4 days under the "hard" scenario. The head of the European Council, Donald Tusk, proposes that Brexit to be postponed for one year, which will allow Theresa May to concentrate on working on negotiating a "deal" with the parliament, rather than asking every two to three weeks for a new postponement and his words look the most reasonable. Meanwhile, Laborites allow for the possible abolition of Brexit, as they promised that the country would not leave the EU without agreement. By and large, the stalemate remains and the British Parliament along with Theresa May and the EU cannot agree. We continue to be surprised that the pound has not yet updated the one and a half year lows caused all this chaos but let's see how May's trip to Berlin and Paris will end. The Postponement of London will most likely give, only that this time is spent? On the next conviction of the parliament that you need to vote for the "deal" of Theresa May. How many more votes will be needed to get through the necessary agreement? After all, the document itself does not change in fact. If the Parliament eventually adopts it, then it will mean that it was rejected several times at first and then unexpectedly adopted the same document.
Trading recommendations:
The GBP/USD currency pair is adjusted in the framework of the downward trend. Thus, it is now recommended to wait for the completion of the correction and resume trading for a fall with the targets at 1,300 and 1.2947.
It is recommended to open buy orders if the bulls manage to return the pair above the critical line with a target of 1.3171, but there is no fundamental reason for this option right now.
It should be noted.
Explanation of the illustration:
Ichimoku indicator:
Tenkan-sen - the red line.
Kijun-sen - the blue line.
Senkou Span A - light brown dotted line.
Senkou Span B - light purple dotted line.
Chikou Span - green line.
Bollinger Bands indicator:
3 yellow lines.
MACD Indicator:
Red line and histogram with white bars in the indicator window.
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