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The British Pound (GBP) rose on Monday, despite uncertainty surrounding trade talks between the United Kingdom (UK) and the European Union (EU), amid hopes for the two parties reaching an agreement before the end of the year.
London does not plan to return to trade negotiations with the EU next year, according to the Prime Minister Boris Johnson’s spokesman
Meanwhile, the EU vowed to continue to work for a trade deal with London until the end of the transition period, said the European Commission Vice President Maros Sefcovic.
The GBP is up by 0.55% against the US Dollar (USD), with the GBP/USD trading at 1.2986.
The pair has been moving in a range between 1.2891 and 1.3025, after closing last week at 1.2915.
Support Levels: 1.2863 – 1.2816 – 1.2767
Resistance Levels: 1.2959 – 1.3008 – 1.3055
