Pound hits its highest since Brexit, by being overbought territory might cause the pair lose its upward strength and lead to possible correction movement. But there is still higher high on the table, buying interest remains strong.
With US government shutdown and French President Emmanuel Macron suggested the UK might get the special solution put Pounds bullish trend remains intact. 1.3900 act as a crucial resistance level, break above would clear the way to the upside.
The pair is still trading along with a sideways trend between support 1.3975 and resistance at 1.4350. Break above would lead to next resistance target at 1.4600, on the downside 1.3500 act as the crucial support.
Next week Brexit will be back on the agenda, the UK government seems now has an idea of what kind of post-Brexit deal they want, a Canada-style. Market expecting a stronger Pound.
Gbp/Usd is testing upside barrier, 1.4000 is critical level before EU urgent Brexit meeting today and follow by Summit scheduled by 22nd and 23rd this week. I would expect the pair continue stuck in a range for now.
GBP/Usd is holding above the psychological level at 1.40, the pair is missing directional strength at the moment, only next week's macro releases will determine the pair's next directional move.
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