Brexit: 'Large gaps' remain after trade talks with Ursula von der Leyen

GBP/USD: Bulls eye more details to ignore no-deal Brexit fears above 1.3300

GBP/USD bulls stay cautiously positive above 1.3300 despite week-start gap-up of over 100 pips. Brexit talks to continue for one more week as policymakers prefer to “go the extra mile”. Light calendar highlights risk catalysts as the key.

10-day SMA guards immediate upside around 1.3365 ahead of the monthly resistance line near 1.3420. Meanwhile, fresh selling can wait for a daily closing below 50-day SMA, at 1.3157 now.

ADDITIONAL IMPORTANT LEVELS

OVERVIEW
Today last price 1.3316
Today Daily Change 89 pips
Today Daily Change % 0.67%
Today daily open 1.3227

TRENDS
Daily SMA20 1.3334
Daily SMA50 1.3151
Daily SMA100 1.3092
Daily SMA200 1.2752

While global markets cheered an intermediate relief to the Brexit watchers, policymakers from London and Brussels need to develop a strategy to not let this opportunity be wasted. Though, a few odds are favoring that the Tories will not show readiness to compromise until Brussels ease a bit.

Other than the Brexit chatters, the vaccine optimism and hopes of the US coronavirus (COVID-19) stimulus offers a positive start to the week. While stocks futures cheer the optimism, the US 10-year Treasury yields follow the suit.

Looking forward, the British reaction to the latest Brexit development and the EU’s readiness to push more efforts for a deal will be the key element that can keep the GBP/USD bulls happy. Meanwhile, the no-deal Brexit fears lurk beneath the table and can jump on anytime to change the sentiment.

 

Source : fxstreet

GBP/USD: Bulls eye more details to ignore no-deal Brexit fears above 1.3300

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