GBP / USD Forecast for November 8, 2018


Theresa May, the British Prime Minister, gathered senior ministers last night to discuss the only unresolved issue in the Brexit-Irish border deal. But now, this formulation sounds somewhat softer – control over goods crossing the Irish border. According to rumors, the result can be achieved with Brussels today. But if today doesn’t work out, then next week.

The price has almost worked out the resistance of the embedded trend wide price channel. It lingered at the Fibonacci level of 76.4% while keeping the daily balance line.

On the four-hour chart, the Marlin oscillator signal line is still in the zone of positive numbers – in the zone of growth trend. To change this trend is still far enough. And amid positive expectations for the London-Brussels deal, the change in trend may not take place even in the medium term. If the price fixes above 1.3178 while maintaining progress in the negotiations, the price may rise to the Fibonacci level by 110.0% to the price of 1.3314.


But the breakdown of negotiations occurred more than once. Also, large British brokers are still relocating to the Netherlands and Germany. But to change the trend, the price should be below 1.2975 – the Kruzenshtern line to the daily. Thus, the situation on the pound has become even greater uncertainty. However, the wait is not long.

The material has been provided by InstaForex Company –

Source:: GBP / USD Forecast for November 8, 2018

Won't your trader friends like this?
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply