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Dec 24 - 01:55 PM

GBP/USD - Traders Sell Ahead Of 2020 High Above 1.36 After Brexit Agreement

By Paul Spirgel  —  Dec 24 - 11:40 AM
  • GBP/USD slides after initial rise on news of Brexit deal nL1N2J40W0

  • Pair falls from post-deal high 1.3613 to NY low 1.3523, ending NY by 1.3550

  • Brexit deal leaves GBP, euro deflated after exhausting run-up nL1N2J40YG

  • Short-term vol hit as traders reassess need for upside protection FXVV

  • GBP/USD res 1.3625 Dec 17's 2020 high, 1.3677 76.4% Fib of 1.4377-1.1413

  • Support 1.3523 post-Brexit deal pullback low, 10-DMA by 1.3454

  • BOE negative rate overhang removed, GBP may trickle higher in early 2021

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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