GBPUSD backs off, fresh Brexit headlines awaited

The GBPUSD pair is trading on the downside at around 1.3038. The high posted overnight was 1.3095 and price ran into some key resistance levels on the daily chart before backing off now towards the lows. Strong bullish bias remains in place.

Markets are apparently persuaded that odds of a no-deal Brexit are lessening and if the EU isn’t enthusiastic about extending Article 50 or renegotiating the withdrawal agreement, it’s looking like a second referendum may be the most likely option.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.