GBP/USD breaks to a two-month high on Brexit bill deal hopes

0

A report about the British government accepting to pay a high Brexit divorce bill sent the pound higher. And now it is taking another leg up.

Pound/dollar is already trading at 1.3415 1.3428, the highest in around two months.

An outline of the Brexit divorce bill is much closer to the EU demands of 60 billion euros and further from the 20 billion that the UK initially agreed to pay. The reports are talking about 45 to 55 billion, leaving some room for ambiguity.

It is important to note that other thorny issues were not discussed: rights of citizens and the bigger question of the Irish border. While the Irish government did not collapse this week, the Good Friday agreement is still in danger.

Optimism seems to be the mood of the day. Bitcoin prices have surged well above $10K. Risks regarding North Korea have been ignored.

In any case, at current levels, the next level of resistance awaits only at the round number of 1.35. A further cap is the cycle high of 1.3650. Support awaits at 1.3340 and 1.3270.

More: One Of The Biggest Opportunities Yet? GBPCHF Wave Analysis

Get the 5 most predictable currency pairs

About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

Comments are closed.