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Long

Pound to lift on the latest Brexit headlines

FX:GBPJPY   British Pound / Japanese Yen
The British Pound added to recent gains against the haven yen as markets digested the latest headlines on the Brexit. The French President Macron and German Counsellor Merkel agreed the no-deal exit could be avoided which is not in EU's interest. In a month time, the UK should agree with the bloc on the alternatives to the Irish border 'backstop'. Their comments raised hopes that a Brexit deal can be achieved. On the other side, concerns over the global economy benefit the yen which is still in high demand. The pair breached above the 130.00 thresholds. It is hovering near 23.6% Fibonacci of a fall since May. 129.00 provides support. RSI indicates further upside. 132.00 in sight.
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