Sterling drops notably in European after UK repeatedly denied progress of fishers in Brexit negotiations. Further than that the talks could even be “concluded” today is there is no further progress.
GBP/USD’s break of 1.3283 support now suggests short term topping at 1.3538, after another rejection by 1.3514 structural resistance. Deeper pull back could be seen back to 55 day EMA (now at 1.3147) first.
EUR/GBP’s break through 0.9083 resistance suggest resumption of rebound from 0.8861. The development reaffirms that case that pull back from 0.9291 has completed, and choppy rise from 0.8670 is ready to resume. Further rally should now be seen to 0.9291 resistance to confirm this case.
