- GBP remains buttressed on Friday amid the feeling that a Brexit deal is near, as long as leaders can make the big decisions.
- GBP / USD is trading in the upper half of the 1.3200-1.3310 range that it has been in for most of the week.
The GBP/USD it is trading at the top of the current range of 1.3260-1.3290, having set new highs for the day at 1.3296. The pair is currently trading with gains of around 30 pips or 0.2% on the day.
GBP / USD stuck within the short-term 1.3200-1.3310 range, but the long-term outlook remains bullish
Since breaking above 1.3200 in the Asian session on Tuesday, the GBP / USD pair has remained in the range between the 1.3200 and 1.3310 areas, hit (like other currencies and asset classes) by the rise and the Decreased risk in (USD weakness) and risk aversion (USD strength), yet amid the broader sense of Brexit optimism, remains bullish for the long term.
GBP / USD continues to trade near the upper bounds of a long-term uptrend channel whose upper bound links the highs of September 16, October 21, and November 10, 11, and 18. For the upper bound of this uptrend channel to come into play again, GBP / USD will need to climb above recent highs at 1.3310 and move towards 1.3330.
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