Once again, Brexit related headlines about the EU and the UK agreed on a Brexit deal have been driven the pair and hit this week high. But it is still a long way ahead of us, the deal is yet to be approved by the UK's parliament, let's see.
GBP/USD: The pound rises in price for the second session in a row. The pound was supported by information that the European Union and the United Kingdom at the expert level agreed on the text of the Brexit agreement. The pound against the US dollar rose 0.2% during trading on Wednesday - to $1,3003 against $1.2977 at the close on Tuesday. Yesterday the British national currency has risen by 1% against the dollar.
GBP/Usd had rollercoaster day while Brexit news kept coming. Currently, the pair is trading just under 1.30 level and lack of strong directional strength, I guess only Brexit headlines will tell us more clearly about where this pair going.
GBP/USD: The rate of the pound sterling during the trading on Thursday demonstrates the maximum fall in 17 months on the news that three British ministers resigned at once because of disagreement with the draft agreement of the UK and the EU on Brexit. On Thursday, the pound fell against the US dollar by 1.8% to $1.2762 per pound against $1.2972 at the close on Wednesday. The British currency almost completely erased the growth since the beginning of the year.
The main trend is a downtrend, whatever happens to the pair he will continue going in his main downtrend even if the news today came optimistic to the GBP I think it will not break 1.30300 and will back to its main downtrend eventually. Now he is just moving in a horizontal movement around 23.6% Fibonacci
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