Analysts at Westpac are suggesting to go long on the GBP/USD pair 1.3200 with entry being at 1.2855 levels for the target price of 1.32 and keeping a stop loss of 1.2770.
Key Quotes
“Amendments to the EU/UK draft Withdrawal Agreement may make the deal more acceptable to EU-27.”
“Passing the draft agreement at the Brexit Special EU Leaders’ Summit would increase potential for an agreed “deal”
“Amendments may also increase potential for dissenting UK MP’s to back the deal rather than face “no-deal” Brexit.”
“This short term event triggered trade (24-48 hours) could morph into a medium term trade (1-3 weeks).”
“Stop to trail spot levels (85 tics) should GBP/USD rise more than 75 tics from entry (at 1.2855, so if breach 1.2930).”
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