With less than 24 days to go, Brexit is back in the headlines. UK Prime minister, Boris Johnson said that he is pushing for speedy talks with the EU. Despite the January 31 deadline, both parties are expected to kickstart a transition period for the trade negotiations to continue. The pound sterling is trading weaker on the day.
GBP/USD Holds on to Support
Price action in the GBPUSD is currently weaker as the support level of 1.3100 is being tested. We expect the currency pair to stay range-bound within 1.3226 and 1.3100 in the short term. A breakout from this region is required that will confirm the direction. For the moment, the bias remains to the upside.
