GBPUSD 1D | Market Outlook

- In the bigger picture, focus stays on 1.3514 key resistance. A decisive break there should also come with sustained trading above 55 month EMA now at 1.3308. Outlook will be turned bullish for 1.4376 resistance and above. Nevertheless, rejection by 1.3514 will maintain medium term bearishness for another lower below 1.1409 at a later stage.
- UK Pound rises higher as Fishing quotas made progress between the EU and UK. This progress made a deadline period which is going to end soon on December 31, 2020. Still other than fisheries, there are level playing field and Governance talks. Expecting positive movement on GBPUSD.
- European Union (EU) made a 15-18% deal proposed to the UK last time, that deal was rejected by the UK. This time talks made progress in a smooth manner. If agreed by the UK, then Pound (GBP) will get strong for sure.