There’s not much in the way of major catalysts from the U.K. this week, leaving traders to pay closer attention to Brexit updates.
Brexit developments
- Sentiment appears to have soured as officials were still unable to come up with an agreement over the weekend
- Pound bulls are getting frustrated that both sides can’t seem to compromise on fisheries even as the Dec. 31 deadline draws near
- Indications that a deal could be struck at the last minute might still spur gains for sterling
Technical snapshot
- Most GBP pairs are looking bullish based on the 50 SMA and 200 SMA
- Only GBP/AUD and GBP/NZD are in bearish territory
- GBP/CAD has been the most volatile among pound pairs based on pip movement in the past seven days
Missed last week’s price action? Read GBP’s price recap for Nov. 30 – Dec. 4 !
