Price Movement Since yesterday, GBP/USD moved up by around 60pips before coming back down by around 60pips.
Trend Overall, GBP/USD is trending downwards.
Important Issue Last night, UK officials said that getting a Brexit deal next week is unlikely as the UK is far from getting what it needs on the Backstop. Furthermore, the European Union will not be giving the final text of new legal declaration to British Prime Minister Theresa May before February 28th. The EU also mentioned that the formal text may be agreed in mid-March and to be approved during the EU leaders summit that is taking place on March 21st and 22nd.
Technical GBP/USD is currently moving towards the support level of 1.30000.
Price Levels Current Price: 1.30340 Next Resistance: 1.31675 Next Support: 1.30000