Sterling 1% Higher Upon Positive News Related to the Brexit

Thursday, 06/09/2018 | 12:28 GMT

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The sterling appreciated approximately 1% yesterday following the positive news on the BREXIT thus fuelling hope that an effective deal with the EU can be achieved. Alternatively, the fears that a Brexit deal might fail to be reached on time during October's summit increased the volatility on the sterling. The reasons for buying the GBP currency are U.K's inflation which is still above the BOE’s target and the Central Bank's decision to shorten its target from 3 to 2 years. Major support is found at the 1.2660 and resistance at the 1.3030.

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Source: https://www.exclusivecapital.com/gbpusd-september-6-2018-weekly-analysis/

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