Despite ''no deal'' Brexit fears, GBP/Usd the risk is turned to the upside, Pound benefits from weak Dollar and broke above 1.29 level, possible to knock on the door of 1.3000.
Upside momentum seems to take a pause, I'm expecting the pair trade sideways for the short-term. Resistance can be found at 1.2936 and follow by 1.2960, on the downside, immediate support is at 1.2865.
The news of EU is close to offering the UK a deal sent the Pound skyrocket to above 1.30 level, what is next, 1.32 level? But the detail of this ''ambitious Brexit deal'' not out yet, let's see.
The pair is consolidating its gains whole day today, the possibility of an 'unprecedented deal' keep the Pound above 1.30 level. Brexit negotiation between Barnier and Raab continues tomorrow, I'm expecting high volatility.
The pair has extended its consolidation movement to the downside and found immediate support around 1.2943/45. On the other hand, Brexit negotiation still seems optimism, meeting between EU and UK will continue another week. Well, it's a progress.
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