GBP is seesawing as Brexit negotiations linger

 3 European Union flags between 3 UK Union Jack flags
The British pound has posted a slight rebound as the European Union's declared that it was ready to intensify talks with Britain toward a trade deal. Tomorrow, September inflation rate will be expected at +0.3% on month, -0.4% previously. 

From a technical point of view, on a daily chart, GBP/USD stands below its horizontal resistance at 1.3080 and is challenging its 50-day moving average (in blue). Readers may therefore consider the potential for further weakness below horizontal resistance at 1.3080. The nearest support would be set at September bottom at 1.2675 and a second one would be set at horizontal support at 1.2500 in extension.

Source: TradingView, GAIN Capital


Related tags: Forex GBP Forex

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