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Brexit Optimism Seen Fading Into the Weekend.

GBP
MNI (London)
  • Barnier comment pausing Brexit trade negotiations saw algo's quickly wipe out earlier gains made when BBC Kuenssberg suggested talks were going well.
  • GBP/USD had edged to $1.3265 then dropped to $1.3196 but recovered as it was due to a member of his team tested positive for COVID and not a break down in talks.
  • Recovery effort capped at $1.3240 but currently sits comfortable above $1.3200.
  • Little to no progress will likely lead investors to trim earlier optimistic bets, especially as we head toward the weekend.
  • Support remains between $1.3200/1.3190, ahead of $1.3165/50. Resistance $1.3240, $1.3265.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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