GBPUSD consolidates above 1.2250 as EU and UK reach stand off

Stand off

The UK and the EU are both keen to be not seen as the ones to de-rail a Brexit view.

If the EU reject Boris’s deal they can be painted as the bad guys. If the UK don’t try hard enough to address the EU’s concerns over Boris’s plans then they will be painted as insincere.

GBPUSD is sat on the daily chart at 1.2250 daily support having formed two inside bars. 

Stand off
  • If the EU says we can work with the deal expect a pop in the GBP 
  • If there is an extension announced expect a pop in the GBP

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