The GBP/USD on daily chart for several sessions have been oscillating under the key resistance zone around 1.33. This is a zone that has not been permanently broken through since the middle of last year. Recently, thanks to the positive reports about the decreasing chances of a hard brexit, the pound has become stronger. In February and March we had strong approaches to resistance, but despite the strong dynamics, the exchange rate has not yet managed to permanently break the discussed zone. The newspapers on the islands suggest that Prime Minister May would like to vote for the third time on the negotiated agreement to leave the EU.

I trade on this instrument at  broker XM, which has in its offer more than 300 other assets >>

Other reports, on the other hand, say that the Italian Government has not agreed to delay the Brexit. So it is still not clear how the whole situation will end. Wednesday’s setting of interest rates in the USA may also be an important point in the picture. The changes are unlikely to happen, although the message’s pronunciation may significantly affect the strength of the dollar. If it strengthens, the demand side will rebound again from the key resistance zone.

Join us in our new group for serious traders, get fresh analyses and educational stuff here: https://www.facebook.com/groups/328412937935363/

Leave us a comment!

Ransquawk