Technical Analysis 15.01.2019

GBPUSD

The pair is in uptrend due to Theresa May’s Brexit deal being expected to be passed by the Parliament after all, as the Prime Minister claims that rejecting the deal would damage the country's economy, and investors hope that the MPs will make a decision favorable for them.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the oversold zone and is moving horizontally. Stoch are growing.

Trading recommendations:

If the Parliament votes in favor of May’s deal, the price may go up to 1.3045. In the opposite scenario, the pair would fall to 1.2700.