The UK Brexit saga continues. On Tuesday, British lawmakers passed the Brexit deal. But the deal failed to pass through before the October 31st deadline. The EU is currently mulling over the extension. Speculation is rife that Brexit could be postponed to January 2020.
GBP/USD Gains to Remain Limited
The upside bounce in GBPUSD comes as the currency pair fell to the support area of 1.2865. The sideways range is likely to prevail within the 1.2865–1.2960 region. As long as this level holds, we expect the bias to be to the downside. The lower support at 1.2582 is the next target. Alternately, if GBPUSD breaks out above the resistance area, then we anticipate further gains.
