Home Forex GBP/USD drops back towards 1.3550 in “sell the fact” reaction to Brexit deal announcement

GBP/USD drops back towards 1.3550 in “sell the fact” reaction to Brexit deal announcement

by kyngsam


  • GBP/USD noticed a “promote the very fact” response to affirmation {that a} Brexit deal had been reached.
  • Commerce is ready to die down within the coming hours amid early Christmas Eve market closures.

News not too long ago broke that the EU and UK have reached a Brexit deal. Provided that, by this level, such an end result was anticipated and had already been priced in by markets, GBP has seen a “promote the very fact” response. As EU Fee President von der Leyen and EU Brexit Negotiator Michelle Barnier ship a press convention, GBP/USD has slipped again from earlier day by day highs above the 1.3600 stage to set lows beneath 1.3550. The pair is presently buying and selling within the 1.3560s, however nonetheless holds onto features of round 0.5% or 70 pips on the day.

Commerce is more likely to considerably die down within the hours forward, with European market individuals having already left for Christmas Eve celebrations and US individuals quickly to observe.

GBP/USD drops beneath short-term uptrend

GBP/USD has dropped beneath a short-term uptrend that had lifted the pair from 1.3300 to 1.3600 in latest days. A possible transfer decrease in the direction of help round 1.3500 is on the playing cards, although a bigger sell-off appears unlikely within the context of a deal having been formally reached, apart from if the transfer to the south is pushed by USD power.

GBP/USD hourly chart



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