- The pound is among the best performing currencies on Tuesday.
- GBP / USD is firmly above the 1.3200 zone and is now testing levels above 1.3250.
The GBP / USD is rising strongly on Tuesday on the back of increased optimism about a Brexit deal. The pound is appreciating on all fronts and against the dollar it is trading at the highest level since September 7.
The pair’s price broke in the European session clearly above 1.3200 and reached 1.3271. It is trading near the highs, with the bullish tone intact.
The advance is given by the strength of the pound as the dollar in general is rising on Tuesday. The return of talks on Monday in London between negotiators from the United Kingdom and the European Union, comes between reports that indicate the island would be more open to commitments for fishing.
The dollar, for its part, is advancing especially against the Swiss franc and the euro at a moderate pace. In the US there will be no impact data on Tuesday and it is noted that several officials of the Federal Reserve They will give exhibitions, including Raphael Bostic, Esther George and Randal Quarles.
The technical aspect was another support for the GBP / USD rally, as the break of 1.3200, clearly involved overcoming a relevant resistance. Now the pair is testing the 1.3265 / 75 resistance band, and should it affirm above it, the 1.3300 area would be exposed. In the opposite direction, 1.3170 has become an important support and below it is 1.3080.
Credits: Forex Street
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