Source: PaxForex Premium Analytics Portal, Technical Insight

As S&P Global Ratings has warned:

• Brexit without a trade deal could stall the recovery of the British economy, which would be an adverse effect on the country's sovereign credit rating;

• The economic and political consequences of Brexit without a deal would be very massive;

• The lack of an agreement will eventually affect Britain's ability to attract capital and labor, the state of its government budget, and its debt/GDP ratio;

• If the pace of recovery of the British economy fails to meet our forecasts, this could put pressure on its rating;

• The rating could also be at risk if foreign investors lose interest in the pound or British assets.

GBP/USD, 30 min

Pivot: 1.3336

Analysis:

Provided that the currency pair is traded below 1.3370, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.3336
• Take Profit 1: 1.3300
• Take Profit 2: 1.3265

Alternative scenario: 

In case of breakout of the level 1.3370, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.3370
• Take Profit 1: 1.3405
• Take Profit 2: 1.3445

Comment:

RSI shows descending momentum during the day.

Key levels

GBP/USD, D1

Pivot: 1.3319

Analysis:

While the price is above 1.3100, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3319
• Take Profit 1: 1.3480
• Take Profit 2: 1.3710

Alternative scenario:

If the level 1.3100 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3100
• Take Profit 1: 1.2865
• Take Profit 2: 1.2675

Comment:

RSI indicates that an uptrend continues in the medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD – sell below 1.2165 with 1.2120 and 1.2105  targets as Take Profit. Alternative scenario - if the level 1.2165 is broken-out, buy with the TP 1.2180 and 1.2195.
USD/CAD - long positions above 1.2745 with 1.2810 and 1.2830 targets as Take Profit. Alternative scenario - if the level of 1.2745 is broken-down,  sell with the targets 1.2720 and 1.2700 as Take Profit.
NZD/USD – sell below 0.7093 with 0.7041 and 0.7028 as Take Profit targets. Alternative scenario - if the level of 0.7093 is broken-out, you should consider buying with the targets 0.7115 and 0.7129 as Take Profit.