GBP/USD Brexit Extension Should Provide Fresh Buying
The GBP/USD has been consolidation just below the 1.3000 psychological level of resistance. At this point any positive Brexit news will push the price up.
Seems like we could see another Brexit extension as the discussion in the EU parliament is ongoing. Today the UK PM Boris Johnson will face his Brexit Deal vote in the parliament as the UK Parliament will vote on whether to support the European Union Withdrawal Agreement Bill. Any POSITIVE outcome will push the cable high. In this scenario 1.3080 is the next target followed by 1.3210 and possibly 1.3300. However if the parliament rejects the deal or we don’t see any Brexit extension, watch out for a huge drop. Intraday support is 1.2930 and ideally the price should stay above for bulls.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX