Following a report that the key Brexit draft law will be debated in parliament in the middle of November, the Pound dropped against the Dollar. This news as well as prolongation of the quantitative easing program announced by the Mario Draghi gave an excellent opportunity to return the cable to the 1.3130 level, from which it started a massive surge this Wednesday. Despite such high volatility the lower trend-line of a dominant ascending channel is expected to block any further attempts of the rate to sneak to the bottom at least until release of the US Advance GDP later this day. However, another round of rapid surge is not expected either, as path to the north is reliably secured by a combination of the 55-, 100- and 200-hour SMAs together with the weekly PP at 1.3197.
