Home / Market Update / Forex Market / GBP/USD Surges Above 1.30 on Brexit Deal Hopes

GBP/USD Surges Above 1.30 on Brexit Deal Hopes

The British Pound (GBP) surged on Wednesday, supported by renewed hopes for a trade agreement between the United Kingdom (UK) and the European Union (EU).

Earlier today, the EU Chief Negotiator, Michel Barnier, said an agreement is possible if both parties are ready to work constructively and in a spirit of compromise over the next days.

The GBP/USD is up by 1.68% at 1.3166, after rising earlier to as much as 1.3177.

The Sterling gains are also supported by the general decline of the greenback.

Support Levels: 1.3055 – 1.3015 – 1.2994

Resistance Levels: 1.3116 – 1.3137 – 1.3177

Check Also

Adobe Stock Falls Despite Robust Earnings as AI Hopes Waver

Adobe (ADBE) shares dropped on June 13, 2025, after Q2 earnings beat expectations but drew …