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Brexit Excitement Sends GBP Bid, Ready for a Short-term Correction?: GBP/USD, EUR/GBP
Today, the House of Lords struck down part of the Internal Market bill that was a crucial part of Boris Johnson’s plans for a “revised” Brexit trade deal. Although Johnson says he plans to pursue the clauses that were struck down, the Pound went bid as there is now a better chance of a trade deal getting done. Talks yesterday were encouraging as well, suggesting more optimism for the Pound. But the technicals are approaching levels for a possible reversal. GBP/USD On a daily timeframe, GBP/USD has broken above horizontal resistance and the 61.8% Fibonacci retracement level from the highs of September 1st to the ... (full story)