The RBA Meeting Minutes went unnoticed, and the AUD / USD fell to 0.72665, then rebound 20 pips higher. It is better to have NZD, which at 0.6855 goes to the daytime peaks. EUR / USD at 1.1450 drifts at the upper limit of the resistance zone. The weakness of the stock market has an impact on USD / JPY losing to 112.50.

On the stock market, the starting point was the sell-off and Wall Street, where the technology sector was particularly bad (Nasdaq -3.26%). Chinese Shanghai Composite loses 2.2% and Japanese Nikkei225 fell 1.09%.

On Tuesday, the 20th of November, the event calendar is light in important data releases, but the event of the day is Inflation Report Hearings from the UK and the Bank of England Governor Mark Carney Speech. Despite him, the other scheduled speeches are from Jom Cunliffe, Andy Haldane and Michael Saunders. During the US session, the US will post Housing Stars and Building Permission data. There are other speeches scheduled during the US session as well from ECB's Jens Weidmann, BOC Senior Deputy Governor Carolyn Wilkins and BOC Deputy Governor Timothy Lane.

GBP/USD analysis for 20/11/2018:

The pair lost 70 pips and fell to 1.2793 in reaction to UK Prime Minister May's comments, which diminished the chance of a possible extension of the transition period to take place after the start of Brexit. Currently, the transition period is expected to end on December 31, 2020. If by then the EU and the United Kingdom do not communicate on trade issues, the backstop mechanism will be activated, which is quite controversial among British politicians and is the reason for the rebellion against May.

In the other news, the Inflation Report Hearings and Mark Carney speech will get the most of attention from markets today as the Governor and other members of the Monetary Policy Committee give evidence on a regular basis before the UK Treasury Committee.

Let's now take a look at the GBP/USD technical picture at the H4 time frame. The market is now moving horizontally in a range between the levels of 1.2793 - 1.2882 as the momentum remains neutral. Nevertheless, any violation of the technical resistance at the level of 1.2882 will open the road for a bigger correction up to the level of 1.3047. This is why the bears will defend this level strongly because they still want to push the prices below the technical support at the level of 1.2723.