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Pound remains well bid despite Brexit uncertainty– GBP/USD Market Outlook – 20/11/2020

The Cable extended recovery towards 1.33 as predicted yesterday, despite the EU preparing for no-deal Brexit plans amid dragging of the negotiations. The Pound bulls remain hopeful that Brexit trade deal will be reached this weekend at the latest, as being reported by some sources. Keeping in mind, that in six weeks the UK’s transition period will end and it will leave the EU’s single market and customs union. So all eyes and ears will be on any possible Brexit development to determine the pair’s next destination.

Support: 1.3225 / 1.3170
Resistance: 1.33 / 1.3330

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Friday, 20 Nov, 2020 / 9:11

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/pound-remains-well-bid-despite-brexit-fears-gbp-usd-market-outlook-20-11-2020

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