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Sterling Jumps On Brexit News

Jul 8 2020, 05:33 PM (BDT) | Orbex.com

gbpusd

The Pound sterling broke out above the key resistance level of 1.2516. Fundamentals drove the gains.

Talks of Brexit dinner raised hopes that the UK might be able to move forward with a deal.

From a technical perspective, GBPUSD is now cleared for a test of 1.2643.

A retest of this will confirm a full recovery in the prices from mid-June.

In the near term, any dips around 1.2516 will likely be supported. This will keep the cable from posting further declines.

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