Over the past trading day, the pound / dollar currency pair showed a volatility equal to the average daily point of 86 points, as a result of having a mark on the spot. From the point of view of technical analysis, we see that, the quote, strictly speaking, has stood in one place since the beginning of the month, concentrating within the level of 1.2150. The fulcrum remains unchanged in the form of a periodic value of 1.2078, relative to which we see a two-digit fluctuation. As discussed in a previous review, traders take a waiting position in previously opened sales transactions, and this is understandable, since the downward interest has captured the British currency so much that even excessive overselling does not affect the interest of bears. Considering the trading chart in general terms (daily timeframe), we see that the clock frequency "Impulse" is still held in the market, not giving rest to the "waiting" phase of the correction.

The information and news background of the past day contained statistics on business activity in the UK services sector, where growth was recorded from 50.2 to 51.4 with a forecast of 50.4. A similar indicator came out in the United States with an increase of 52.2 to 53.0. The most interesting highlight of the day was the retaliatory strike of China on previously announced US intentions to impose 10 percent duties on the remaining Chinese imports. The Asian side, in turn, no longer intends to rely on a soft diplomatic strategy and instructed to suspend the import of American agricultural products into the country. Naturally, this kind of response by the Chinese authorities dealt a significant blow to the American currency. The euro / dollar pair flew up more than 140 points, while the pound / dollar remained in the same place, but why? The whole reason for the UK & EU divorce proceedings, which has eaten so much into the English currency that the situation is nowhere worse. Thus, short positions in the dollar, even with a background like China, seem much more attractive than in the dying pound.

According to tradition, we complete the informational and news background with our beloved Brexit.

The EU leadership has concluded that the most likely scenario for Britain to exit the EU is "tough". This kind of opinion was formed after the meeting of the European Commission and diplomats from 27 EU countries.

Today, in terms of the economic calendar, we have statistics on open vacancies in the US labor market, where they expect a reduction from 7,323 thousand to 7,317 thousand.

Further development

Analyzing the current trading chart, we see that the quote both stood at the level of 1.2150, and stands, forming along it versatile candles like a doji. Traders, in turn, continue to hold downward positions due to the strong background in the English currency. At the same time, the current ambiguous fluctuation in the form of accumulation forces traders to hedge in the form of a restrictive order shift.

It is likely to assume that this type of oscillation leads to the fact that the shop will collapse with sharp pulses, and here, you need to be prepared for this. The fluctuation within the level of 1.2150 will continue, where it is necessary to carefully analyze the behavior of quotes for obvious price exits.

Based on the available information, it is possible to expand a number of variations, let's specify them:

- Positions to buy are considered in case of a jump and price fixing higher than 1.2200.

- Positions to sell have already been held by traders for a long time. The stops are shifted to the area of 1.2200, and the prospect of reduction remains the same in the form of 1.2000 (+/- 20p).

Indicator analysis

Analyzing a different sector of timeframes (TF), we see that indicators in the short and intraday perspective fluctuate due to accumulation. Meanwhile, the medium-term outlook as a whole signals a further decline.

Volatility per week / Measurement of volatility: Month; Quarter; Year

Measurement of volatility reflects the average daily fluctuation, calculated for the Month / Quarter / Year.

(August 6 was built taking into account the publication time of the article)

The current time volatility is 39 points. It is likely to assume that in the event of an accumulation breakdown, no matter the side, we will see a temporary leap that will lead to increased volatility above the daily average.

Key levels

Resistance zones: 1.2150 **; 1.2350 **; 1.2430; 1.2500; 1.2620; 1.2770 **; 1.2880 (1.2865-1.2880) *; 1.2920 * 1.3000 **; 1.3180 *; 1.3300

Support areas: 1.2150 **; 1,2000; 1.1700; 1.1475 **

* Periodic level

** Range Level

*** The article is built on the principle of conducting a transaction, with daily adjustment