GBP/USD like most majors has took advantage of week Dollar this morning gaining over 100 pips, reaching 2020 high.
Price is currently levelling off & I don’t expect to much movement until this afternoons data releases.
Strong resistance at 1.3300 could cap gains with price bordering on over bought conditions.
Chancellor of Germany Angela Merkel has scrapped planned Brexit talks from crucial Brussels summit, following the latest breakdown in negotiations.
It has been reported that PM Boris Johnson has less than two weeks to save post-Brexit trade talks.
Uncertainty will not help the Pound as it looks unlikely they will be able to break the current Brexit impasse.
My outlook is to the downside, I expect price to range between 1.30 & 1.33 as many factors weigh on the Pound.
Support: 1.3153 - 1.3087
Resistance: 1.3300 - 1.3359
Price is currently levelling off & I don’t expect to much movement until this afternoons data releases.
Strong resistance at 1.3300 could cap gains with price bordering on over bought conditions.
Chancellor of Germany Angela Merkel has scrapped planned Brexit talks from crucial Brussels summit, following the latest breakdown in negotiations.
It has been reported that PM Boris Johnson has less than two weeks to save post-Brexit trade talks.
Uncertainty will not help the Pound as it looks unlikely they will be able to break the current Brexit impasse.
My outlook is to the downside, I expect price to range between 1.30 & 1.33 as many factors weigh on the Pound.
Support: 1.3153 - 1.3087
Resistance: 1.3300 - 1.3359