SIGNIFICANT bullish rejection was demonstrated as a quick bullish spike towards 1.1100 where another episode of bearish rejection is being expressed. The current bearish movement below 1.1050 renders the recent bullish spike as a bullish trap, preparing for another bearish decline towards 1.0940.

Expected, temporary bullish advancement was demonstrated towards 1.2400 - 1.2450 where the upper limit of the current movement channel came to meet the GBP/USD pair. The Long-term outlook remains bearish as long as the upper limit of the current movement channel around 1.2450 remains defended by the GBPUSD bears.

Watch for buying opportunities if you see any bullish pattern near 1.1100 cause there is potential for new movement upwards. The level of 1.1050 seems like a solid take profit zone.

My advice is to watch for potential buying opportunities on the GBP due to new momentum UP on the MACD oscillator and potential buying the pullback type of feeling. First objective is set at the price of 1.2500.

Watch for selling opportunities due to breakout of the upward trendline and new momentum down on the oscillator. The first downward target is set at the price of $9,870.

Reducing the risks of promiscuous Brexit allowed the GBP/USD pair to soar to its highest level since the end of July.

Investments in fixed assets of China and industrial production in August were very weak while retail sales growth was moderate. Even the authorities acknowledge that it will be difficult to achieve 6% GDP growth announced earlier.

Buyers of the pound retreated from the market, but the demand remains high enough, and it is clear that with each downward correction, traders open new long positions

In the first half of the day, buyers of the euro failed to get above the resistance of 1.1079, and after the release of data on the reduction of inflation in Italy, they completely retreated

The unexpected news that oil facilities had been attacked by drones in Saudi Arabia set in motion the previously consolidated crude oil price range. Quotations of "black gold" soared by 10% at the moment and although they partially rolled back down after that, prices are still kept at local maximums. A similar picture happened with the price of gold, whose quotes jumped up and held above the mark of 1,500 dollars per ounce