GBP / USD pair

The British pound continues to grow on the optimism of the new "improved" agreement with the EU. Readiness to review the agreement was announced yesterday by EU negotiator, Michel Barnier. The sterling pound added 105 points. Growth started from supporting the MACD line on the daily chart. Growth may continue the price channel line to the level of 1.3037 (near the maximum of August 30 last year). A Fixation above the line will allow the price to consolidate for a further increase, however, its growth seems as unreliable as in the first week of November.

The development of decline is possible after the departure of the price under the MACD line on both daily and H4 charts. The price levels on both charts are approximately the same at 1.2842. In this case, we expect a decline to the nearest target on the support line of the price channel of 1.2669, which coincides with the January 15 minimum.