GBP USD TECHNICAL ANALYSIS
The pound jump above 1.33 price area since august last year extends on optimism that the risk of no-deal Brexit is fading.
Brexit time votes
March 12 – Meaningful vote on a new Brexit deal.
March 13 – If March 12 deal is again rejected, it could support leaving the EU without a deal on March 29.
it appears that the chance of rejecting the first motion and approval of the second is high. The longer the duration of the extension, the higher the case of the second referendum.
For now, the market is optimistic but No doubt, a no-deal Brexit is the worst of all scenarios
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| GBP USD ANALYSIS: |
GBP USD TECHNICAL ANALYSIS:
At the moment it appears that the level of 1.2970 is a support level, if that is so I think we are going to see the pound coming to test the 1.33 level again.
If the 1.33 level breaks, this will lead the pound to cope with higher levels in 1.3460 1.3720 and 1.39-1.40, while an inability to breach the 1.33 level will bring it back down, breaking the 1.2790 level could return it towards 1.23
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| POUND ANALYSIS: |
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