The GBPUSD seems to have finished with its bullish pullback and heads back down from the 1.2956 zone. However, the 1.2800 level may act as support. On the other hand, the downtrend is still in place in the midterm and the pair may try to continue lower.
The pair is consolidating its gains whole day today, the possibility of an 'unprecedented deal' keep the Pound above 1.30 level. Brexit negotiation between Barnier and Raab continues tomorrow, I'm expecting high volatility.
The pair has extended its consolidation movement to the downside and found immediate support around 1.2943/45. On the other hand, Brexit negotiation still seems optimism, meeting between EU and UK will continue another week. Well, it's a progress.
Possibility between the UK and the EU may reach an agreement have once again faded away, fears of ''no deal'' Brexit increased risks on the downside. The pair is currently consolidating in negative territory, immediate support can be found around 1.2850 and follow by 1.2800.
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