GBP/USD - 4H.

On December 12, the GBP/USD pair performed a fall to the corrective level of 76.4% (1.3044), rebound from it and performed a reversal in favor of the British currency after the formation of a bullish divergence at the CCI indicator. Also, a strong rise to the Fibo level of 100.0% (1.3378) with consolidation above it. Of course, such an impressive growth of the pair became possible because of the information background, which was extremely important tonight and remains so now. For a few hours in the morning, the pair's quotes managed to make a return to the Fibo level of 100.0%. The closing of the pound-dollar pair under the Fibo level of 100.0% will work in favor of the US dollar and the beginning of the fall of the quotes in the direction of the correction level of 76.4%.

So, although there are no official data on the results of the elections to the UK Parliament, the data from exit polls give a very eloquent picture of the distribution of parliamentary seats among the parties. According to preliminary information, the Conservative Party receives 368 seats, the Labor Party- 191, the Scottish Party - 55, the greens - 1, the Liberal Democrats - 13, the "Brexit" party - 0, the rest - another 22 seats. In this way, the Conservative Party gets to form a "majority" and put any bills on the agenda without any worries that they could be blocked by other parties or coalitions. The Labor Party is showing its worst result since 1935. Boris Johnson has already managed to thank everyone involved in his victory, writing on Twitter: "Thank you to everyone across the country who voted, who worked as a volunteer, who was a candidate. We live in the greatest democracy in the world." Also, the British Prime Minister said that "it is time to complete Brexit" – what the country has been striving for and going for 3 years and that now it is possible to implement. Thus, based on the current election results, which are likely to remain so, Brexit will indeed be completed by January 31, as Boris Johnson's second promise states. Other parties, even if they form a general coalition, will not be able to interfere with Johnson's plans.

By the way, many political analysts now note that all of Johnson's previous defeats in Parliament were almost orchestrated by him to be able to hold early parliamentary elections under the slogan "Let's finish Brexit". Tired of not ending the UK exit from the European Union just "gave" votes to Boris Johnson. Now the ruling party in the UK has the opportunity to implement anything and change the country as it pleases. The US President has already congratulated Boris Johnson on his victory and said that "Now America and Britain are ready to conclude a major trade deal." However, as it happens always, there is a second side of the coin. The first is almost 100% probability of a completed Brexit and a point with a three-year series of exit from the European Union. However, with such a serious mandate that Johnson now has, he can make absolutely any decisions. That is, no other political force will be able to prevent it for the next few years. Accordingly, the principle of democracy as such will not work in the UK in the coming years. Will the British people regret giving the reins of power to the country in one hand?

Forecast for GBP/USD and trading recommendations:

The pound-dollar pair performed consolidation above the Fibo level of 100.0% (1.3378). Since the elections in the UK can officially be considered history, today the pound-dollar pair will have a day of consolidation. Traders have more than worked out information about the election results, but it will be difficult for the pound to continue to be in high demand. Summary - today, I expect the closure under the Fibo level of 1.3378 and the fall of quotes. Until the close below the level of 1.3378, you can stay in the pair's purchases.

The Fibo grid is based on the extremes of March 13, 2019, and September 3, 2019.