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Sterling Jumps On Brexit News

Posted On 08 Jul 2020
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gbpusd

The Pound sterling broke out above the key resistance level of 1.2516. Fundamentals drove the gains.

Talks of Brexit dinner raised hopes that the UK might be able to move forward with a deal.

From a technical perspective, GBPUSD is now cleared for a test of 1.2643.

A retest of this will confirm a full recovery in the prices from mid-June.

In the near term, any dips around 1.2516 will likely be supported. This will keep the cable from posting further declines.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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