- GBP/USD broke key levels
- Brexit optimism
Price Movement
Since yesterday, GBP/USD had moved up by around 150pips.
Trend
Overall, GBP/USD is moving on a downtrend.
Macro Background
No major economic data release.
Important Issue
Yesterday, pound strengthened upon the announcement that British Prime Minister Theresa May is still looking to reopen the withdrawal agreement. Also, May is said to seek legally binding backstop changes during the meeting with the European Commission President Jean-Claude Juncker later today.
Technical
Yesterday, GBP/USD tested and rejected the 1.29 key level.
GBP/USD went on to break the resistance level of 1.30000.
Price Levels
Current Price: 1.30551
Next Resistance: 1.31675
Next Support: 1.30000
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