The Brexit deal is agreed, will it bring a new era for sterling


GBP USD jumps sharply and broke above 1.40 barrier on news that Brexit transition deal is agreed, Its a Busy week for the British pound: cpi , rate decision , Brexit talks
The legal text of the agreement is expected to be delivered to the EU summit on Thursday and Friday for final ,the date for the transition period will be December 2020.
On the data front, UK inflation figures will be closely scrutinized by sterling traders for confirmation or otherwise that the Bank of England is moving closer to a hike. After softening a touch, inflation bounced back to 3.1% in February.
Following this, the Bank of England indicated it is a lot closer to raising rates than previously anticipated by the market, a move that sparked sharp gains for the pound before it retreated, as political risks appeared to swell.
Sticking with UK interest rates and the testimony of the Bank of England’s newest policy-setters will be followed by an indication of when rates may rise.

sterling dollar technical  analysis
sterling dollar analysis

Technical analysis:Long-term chart is showing to us that As long as gbp usd will stay above 1.3450+_ Key support the trend is up  ,medium term outlook in GBP USD will remains bullish as long  Short term charts show us that As long as gbp usd will stay above 1.3760+_ the trend is up
Further targets could hit to the top at 1.55 price area !
Next Resistance area stay in 1.4350-80 +_  , above this the price  gbp usd could test upper levels at  1.4560-1.4620 price area  while cross those prices will send gbp usd  to  1.4920+_ price area
Below 1.3300 price area it  could  bring larger down trend resumption, while we have first to meet 1.3080. On the downside, break of 1.2840 support will indicate short-term topping. If it will fail to stay above the level it will be turned back to the downside for 1.2640 support current
GBP/USD remains mildly on the upside. Rebound from 1.3020 would target 1.3580 below 1.3020 minor support will be at 1.2860 and even more to 1.2680
Break above those level will test the trend for the GBP USD , This target was derived from the resistance (white band ) through all his decline from 1.55-1.57_+ area – mark on the chart below

pound dollar technical analysis
pound dollar analysis
gbp usd technical  analysis
cot position shows strong resistance on 1.35-6 price area was crosses up and it turn to be support area also look on the position map show for more up moves    :
gbp usd position map

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

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