Boris Johnson lost for the third time. Pound up

Boris Johnson went down in the history of British parliamentarism as the first prime minister to lose three votes in the House of Commons at his first parliamentary session. And they were not just any votes.

Boris Johnson and Brexit

First, the parliament deprived the prime minister of the initiative on the agenda. He later ordered him to apply to the European Union with a request to postpone Brexit for another 3 months to 31 on January 2020 year. Finally, the parliament rejected the prime minister's request for early elections on October 15. Although the latter may still occur, it seems almost certain that 31 October this year. there will be no Brexit without a contract.

This faith can be seen on the GBP / USD daily chart. Over the past three days, the balance of power on it has changed by 180 degrees. First, the pound made a return from the level of triple support formed by the August hole (1,2015), the round level 1,20 and the hole from January 2017 of the year (1,1986). As a result, the candlestick formation of the hammer was drawn on the daily chart, which in combination with the divergences of this chart, among others with MACD, suggested an end to increases.

The above suggestions were confirmed on Wednesday. The lost votes kicked the pound. The chart moved up strongly, and Tuesday's return was confirmed by technical analysis.

On Thursday, GBP / USD continues to increase, and further buy signals appear on the chart. Breaking the 6-monthly bear market and the outlined double bottom formation is nothing more than an announcement of moving to the 1,2575 level. And it doesn't have to be over. The 1,2575 test will mean that the pound will be above the important hole from December 2018 (1,2477) and above 38,2 percent. the abolition of inheritances from March to September this year Thus, they will be further buy signals.

Chart GBP / USD, D1 interval. Source: MetaTrader 4 Tickmill UK