Breaking: GBP/USD leaps above 1.28 as DUP reportedly accepts Brexit proposals on consent
|Toney Connelly from the Irish broadcaster RTE reports that "two senior EU sources say the main stumbling block to a deal has been removed with the DUP accepting the latest proposals on consent"
The Democratic Unionist Party (DUP) has expressed its concerns about the upcoming EU-UK Brexit deal. There are two problematic topics – a customs border in the Irish sea and a mechanism for democratic consent for citizens of Northern Ireland.
GBP/USD is jumping above 1.28. It is now trading at the highest since mid-May – a six-month high. Cable peaked at 1.2839 before dipping below 1.28 once again. Other reports suggest that the news is premature.
Here is the move on the 15-minute chart.
The next levels to watch are 1.2860, 1.2920, and 1.2990. Support is at 1.28, followed by 1.2740, and 1.27.
Last-minute Brexit discussions continue in Brussels and in London. Prime Minister Boris Johnson is trying to find formulas that are agreeable to both the EU and the hardliners in his party and in the DUP. The bloc's leaders convene on Thursday and hope to announce an accord.
More Brexit: Five outcomes and GBP/USD reactions as a deal may become real
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