Open Demo Account
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

M. Ali 21 October, 2020 9:11 pm Forex Market, Market Update

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

Tags

Check Also

US Dollar Pressure Before and After Trump’s Davos Remarks

US traders are closely monitoring the Federal Reserve’s looming rate decision, despite ongoing headlines about …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends