GBPUSD - The Growing Wedge:

# Technical_analysis_and_comments:

Good day, dear investors and colleagues traders!

Your attention a technical analysis of the currency pair #Gbpusd:
The currency pair has not practically changed relative to the last close, although the pair made an attempt. The contracting range creates the classic “Growing Wedge” trading figure, which suggests a decline to 1.22-1.20.
The currency pair demonstrates the normal performance of standard indicators of price and volume.
We expect a decline to the lower border, its breakthrough and fixation under it.
This week suggests a constant news flow of macroeconomic statistics for the UK, and given global trends, they will clearly be negative.

Levels of mathematical support and resistance for the current week:
a) Support: 1.2392, 1.2280 and possibly 1.2152;
b) Resistance: 1.2634, 1.2760 and possibly 1.2874;

Market participants are strained by the growing third deficit in the UK under current conditions, but 2 negative factors can immediately add to this: uncertain Brexit and the weakness of the British economy.
Manager of WMCI Asset Management Indirect Management Fund Sergey Melnikov.

Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”