The UK PM May was in Brussels on Wednesday to plead her case for another extension to the Brexit deadline which was due to expire on April 12th. EU leaders agreed to May’s plea and extended Brexit until October 2019. EU President Donald Tusk said that this would give the UK more time to leave the EU in an orderly fashion.
Will GBPUSD Hold the Trend Line?
The cable managed to post a strong reversal just off the rising trend line which falls above the support area of 1.2998 – 1.2971. While price action remains flat for the moment, the range-bound activity is likely to continue. As long as the trend line holds, GBPUSD could be seen attempting to push higher. GBPUSD will be looking to target the previous highs of 1.3177.
