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Jumps on 'Old Headlines' as Trade Deal Hopes Remain.

MNI (London)
  • GBP/USD lifts to $1.3254 as market reacts to Brexit trade negotiation headlines, but seen as old news.
  • Rate quickly retreats to $1.3236 as wiser heads prevail.
  • Market seen needing something more definite that rehashed headlines to gain upside escape velocity. However, sterling has an underlying buoyant tone based on deal hopes and a positive risk outlook on COVID vaccine.
  • BOE Bailey speaks at 1115GMT.
  • Support $1.3200-1.3190. Resistance now $1.3254/63(Int.Day high/76.4% $1.3312-1.3106). Above here exposes $1.3310/12.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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