Sharp rise in the GBPUSD
The GBPUSD has spiked higher - rising to a new day's high in the process. The move correspond with comments from EU Von Der Leyen who said:
- "Convinced" EU-UK trade deal still possible (according to the FT).
The move to the upside took the price above the broken lower channel trendline near 1.2916 and also above its 200 day moving average 1.29399. The high price extended to 1.29965 - just ahead of the key natural resistance at 1.3000 level. The high price yesterday and peaked at 1.30064 before rotating back to the downside.
The run to the upside has since retraced back to the 200 hour moving average level at 1.29399. It seems stocks were triggered and now we are seeing a move back toward the comfort zone near moving averages and trend lines.
Nevertheless the move did tilt the bias a little more to the upside intraday, and certainly muddy the waters which were looking more bearish at the start of the New York session..
