The GBP/USD opened the third week of October with the gap on the downside after closing at 1.3142 as the weekend negotiation between the UK Brexit Secretary Dominic Raab and the European Union chief Brexit negotiator Michel Barnier ended in disarray. Sterling short covering saw the GBP/USD close the gap on Monday managed to recover 100 pips to 1.3180. The key risk event for Sterling during the third week of October was the Brexit summit scheduled for Wednesday evening that apart from a collapse of Raab-Barnier meeting saw various European Union officials indicating that the Brexit deal won’t be done in October ... (full story)