Breaking News: GBP/USD breaks above key Fibo resistance on Brexit optimism

FX Street

Updated: 6 Nov. 2018 | 14:19

The GBP/USD breaks above 1.3085 resistance level representing 23.6% Fibonacci retracement of Sterling from 2018 high of 1.4377 to 2018 low of 1.2662.
The UK Cabinet meets with Brexit Minister Raab sending thumbs-up signal on his way out.
The market sentiment now is positive as Brexit optimism is on the rise although on a cautious path.
A sustainable break above 1.3085 and 1.3100 should see GBP/USD testing 1.3175 and 1.3260.

GBP/USD 1-hour chart

FX Street

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